drop in oil is not so much unwinding of trades by institutions/hedge funds, but more a proxy for global economic weakness. And why would CSCO close for 5 days if they had a full book of orders? I bet come Monday the news from retailers will be just another reason to get in your bunker and keep your head down. stay short the credit squeeze is just the headline, no one can tell the public about credit default swaps because joe six-pack graduated high school w/o taking an algebra class.
Grind is a nice guy. The problem is all those who follow him blindy. When this volatile stops , market go up, Grind will disappear and all the rest will get the big one.....but then will b e Grinds fault
If you read my threads, I actually stated over a week ago that Wednesday this week would be the beginning of a rally to OVER 10,000 by mid-Jamuary.....I also stated that I thought Monday and Tuesday of this week would be down - hence my smallish trade block of EEV which was purchased Friday, and Monday - also note that I was in acummulation mode on MSFT for over a week at drops below 18 and 19 depending on where the price was and I set a sell limit for them today at 20.10 to lock in nice gains....I did this because my call on the Monday and Tuesday reds days did not come to fruition....
I also BOUGHT DUG today pre-market at 34.65 because I knew OIL would drop - but check it out - oil down over $3 and DUG down!....go figure
All of my buys/sells and opinions are posted - I back my predictions up with text...PRIOR to an equities move.