This would be a fun market to trade. Yesterday the S&P 500 bounced close enough to the 1295 level I highlighted, as an area to remount shorts. And that would have immediately paid dividends as some weak economic data this morning kicks the bulls in the groin. Frankly I didnt think yesterdays economic data was anything to write home about, but the market was extremely oversold so was overdue to bounce - hence even somewhat benign data was embraced.
I am a bit surprised at how quickly things have reversed down however - thought the bulls would keep going for at least 2-3 days.
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