cnh reports earnungs on the 23rd will be a great tell on Agco and DE.
Yes big corrections but still looked like short covering this afternoon. will wait and see. I think a retest of the recent lows are need to confirm this uptrend. Still think market will see 12,000 before 13,000 if the FEd doesn't get it.
cnh was not on my radar. I'll put that one on my calculator.
I agree with you about the market. We'll probably go lower before we go higher. it probably was just short covering. I'm just not willing to hold a position for more than a couple days at this point. I closed some short positions too early (i.e. RIMM @ $115, HOG @ $47) and now I feel a little late on a lot of them. Much like you, I feel a lot better being in cash. If I can scalp a percent or two here or there, I am happy.
yeah cash is nice. The return on cash isn't that nice but it's better than negative return. I think the FEd action will make those in cash and bonds HAVE to go to stocks for any type of return. This is a wild guess but I think Bernake is going to try to dampen expectations for a 50bp cut. the Fed is still worried by inflation and does not want to cut. If they wanted to cut big they would have by now. I could see a Fed discount window cut on the 19th if the market looks like it's going over a cliff by then. I still think the bad news is still to come. Banks report earnings next week I think. That will be the tell. If the stocks go up on the news than the all clear is sounded for the short term and a preFed rally is in the wings. Today's reversal was interesting but I think it's a little early yet. May be wrong but it costs me nothing if I am....