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.
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