There was some volume on the downside today and the usual PPT saviors were missing at the end of the day yesterday and today.Although we may not see the fat finger five hundred down moment,we could see continued weakness to the tune of 10% or more during these pre-election antics.
I know,I know,it's a side show at the alternate universe carnival, but Mr.Market HATES uncertainty.
There's a sideshow here,a side show in Europe and a sideshow in the Mideast.
None have a clear, concise script.
Let's watch DLX tomorrow and VIX more signals, but be careful.
And finally, are we entering another recession?
It's always darkest just before it goes black completely, but the real estate recovery seems to be happening as far as bogus stats are concerned and the unemployment numbers were under the analysts misapprehensions. So the big drop is due, at worst, a return to COB Wednesday prices DCB, BUT, if banks are flying tomorrow as portended, we'll be back where we once belonged by end of Friday's session.
Methinks the bop up is after the dropoff, so stay thirsty my friends
The latest weekly initial claims report showed a decline of 30,000,which sounds great. But,apparently, they are checking to see what caused the dropwhich may be in part due to leaving out a day that was missed!.....If so, (and they say is happens fromtime to time) next week will be adjusted upward.
Meanwhile, at Wall & Broad, they are slowly but surely eating into the gains we started out with this AM. However, VIX is down to $15.69 as I write so the CME guys are either out to lunch or not frightened by anything going on.
Alls well in the alternative universe we call home.
I think I am misguided and confused or the oral surgeon pulled out more than a root.
I will re-visit and search through his garbage can. So until I get back that portion of my lost cerebrum, I won't operate any heavy machinery OR pontificate on the well being or ills of our financial markets.
GL to all.