Tuesday, September 13, 2011

What a Market

Similar to 2008, everyone is just sitting around and waiting for someone to rescue something before life can go back to 'normal'.  There is no fundamental analysis at all on individual companies - everything is a macro trade and intervention trade - bots and humans scanning the headlines for the next miracle cure.  This morning futures jumped from deeply in the red on some rumor of a statement from Germany/France - when that rumor was denied, the futures fell back about 0.7%.  It's all nonsense right now.

EDIT - we remain in about a 100 point range between S&P 1120 and 1220.

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