In a reponse to my own post LOL I want to comment on the DOW futures down 100 points vs faur value.
I dont normally talk in in anything less than technical terms but I have seen some money flow occurences that are worth monitoring today.
Let me start with Friday. There was a great run up on friday in the dow with a sizeable downward move in the last 15 minutes. Regardless weather this was a profit taking opp or someone trying to short the market at close the fact remains that there was a decent amount of money invested prior to that move.
The next opening Tuesday we saw futures weak only to see the market rally up to +130 before the same type of profit taking / shorting in the last half hour.
Let me talk monet flow for an instant. There was some nice inflow yesterday specifically in the afternoon prior to the last half hour. I jut can not see these posistion going in the red much more if any than the futures are indicating.
If the market opens dow 100 and is bought back to break even then I think my pre fed meeting price target of 13,700 will be met.
The buy the dips certainly looks to be the tone on WS right now. Lets see if the open (or shortly there after) is today's low.
Not spell checking or grammer checking (and typed very quickly LOL) so go easy on me I have to scan 9:00 charts :)