Institutions want to lock in year end gains right? More importantly they want to beat the gains in the major indices. Smart money wants to kick up their feet on Thanksgiving, count their winnings, and let the retailers fight for the scraps that are left. That's why smart money starts dumping tomorrow. The sheeple are worried about leaving for thanksgiving and are taking for granted that this market is going higher through end of year. Tomorrow, many will be in route to their destinations and not paying attention to the market. We don't fall off a cliff though. 15-20 point give back on the S&P500 for tomorrow. Not enough to panic the sheeple or make world headlines. Negative news and panic spreads amongst those in the know. Friday, the sheeple buy the dip. We move higher slightly in the a.m. (just the buying interest institutions need to dump more), then end of day we reverse, closing lower 1080's. Panic ensues over the weekend and Cyber Monday sees the market sell off on heavy volume. Month ends with a big fat ? Tuesday....Well, not sure what happens Tuesday yet.
CNBC now encouraging investors to hold over the weekend. Wow. There are going to be some angry longs come Monday when more news leaks over the weekend. Watch for an end of day close below the neckline at 1085. 1084.5 would be hillarious. This will be Cramer's last show ever on air tonight. I still won't watch. lol
Have a great weekend FAZZeRS
if your not playing with your own money what do you care. right now we have berneke and friends playing with tax payer money with obama and congress blessing. so what if he rolls the dice and it comes up snake eyes not his loss the rich will just become richer and the middle class fools will be poorer.
the paper reported today that they expect a surtax to be enacted to pay the evermounting deficits. that seems to always be the solution when all else fails will just raise more revenue with taxes. its easy to play with other peoples money. that's what all those 8000 plus funds are doing and if they lose its just the middle class that lost all the savings and retirement money. the rich are always protected so no skin off their back. so however the dice roll the rich will always get richer and who cares about everyone else. let them eat cake or make them believe they are eating it they'll never be the wiser.
Hey guys, be calm. This is the dead cat bounce i was talking about. Dumb retail investors are going long thinking this is a nother buying opportunity. We gap down huge Monday. More longs will be trapped. I'm sitting back with my feet up holding my FAZ. Notice how the SPY found resistance at the 11 ema. We could certainly close near the lows of the day.