Chop. Chop. Chop. Chop. We've already completed a full round trip from the close Friday in a session and a half on the S&P 500. Amazing that oil can rally 15-20% and it puts a 2% drop in the market, but when it falls 1% the market rallies 1%. We of course had another very positive overnight session on little news other than vague rumors in Libya...
Looks clear now that the 50 day moving average on the NASDAQ is the current market 'tell'. Nearly 2% of a bounce once we made the slight break of that level mid afternoon yesterday.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows