The Bears should have another good day tomorrow.
1.) A big sell-off in Asia and Europe should cause US futures to open down as they are already indicating.
2.) All the Employment reports coming out at 8:30 should be misses.
3.) Factory Orders report at 10:00 should be another miss.
4.) It's Friday. Who wants to hold onto stocks over the weekend when all anyone will be talking about on the news will be the big sell-off and therefore Monday should too open down.
SPX breaking both the 1050 and 1038 support lines in one day on high volume, is a very scary sign for the Bulls.
GS Spooks with jobs forecast + too much data comes out tomorrow.
I don't know that I'd count on everything being a miss..
The market priced in possible misses on jobs data today.. If it's worse than forecast but better than GS & the other data looks OK, I'd guess the market reverses most of yesterdays loss.
Remember last month GS said 250,000 jobs lost & actual was 216,000.
My bet is that numbers won't be god awful across the board & once the data is out of the way the market recovers at least 2/3rds of Thursdays losses, all by Monday.. If Pepsi, Costco & Monsanto earnings look good, S&P 1080-1100 by Tuesday..
I am telling you, the market is going to rip higher tomorrow and take everybody's money with it. Goldman is always one step ahead of the mizesaws of the world. They know the bear case, they are aware of the extreme bearish sentiment, and they pour gasoline on the fire by revising the jobless rate upwards today. They also know about the guys with erasers massaging the non farm payrolls numbers after a 200 point down day. Maybe I'm wrong. I doubt it.
I think the days of our bailout money keeping the HFT afloat are nearly over. HFT only works in low volumes. Summer's over, they barely managed to keep the market limping along during Sept with HFT, but it can't compete with sellers heading for the exits.
This market is headed down.
I love how many times I've seen the word 'unexpected' in relation to bad news in the last week on the net / news. 'Unexpected by which idiots' is the question.
Reality is a b#tch, and gravity still works.
Cramer calling to buy CIT at the top is classic. Couldn't have picked a better indicator that the biggest bear market rally since the last great depression is over.
62% rally in the SPX - only cost is several trillion dollars of our children's future. We'll see WHEN (not if) the bear takes it all back.
i hope you're right abbie.
all i'll say - if the market mysteriously tries to go up tomorrow - SKF holders should not panic-sell. It's only a matter of time the market will correct. panic-sell only begets more panic-sell - which only prolongs the irrationality.
... this is also "perfect" opportunity for market manipulators to take the market up.
How spooked would the Bears get? (& sell to cut loss)
How respectful would the sideline money get? (& finally take the buy plunge)
We all know economy is in shambles ... but think like your adverseries (the bankers). They're gonna be plottin all night tonight
I hope "you" turn out right though !