No, just the usual overnight porking where US stocks get repriced without a single share traded. did you really think that phony rally we had today was going to stick? That was so banks could cash out at higher prices, the Fed can't afford to let them get hurt.
I had a great day, bought TZA at the bottom, sold covered calls, closed them out at the end of the day for a $.25 profit and I'll be selling them again tomorrow when volatility is higher.
No one is paying attention to what is really going on, we are running right off a cliff. the FB IPO is a disaster, a clear sign there is NO ONE who wants to hold the shares. Stocks are toxic right now, being flipped like crazy, no one wants to be left holding the bag.
the retail suckers never showed up to the party, no one to dump all this inflated garbage on. now with Facebook falling like a rock, retail investors are watching and it only confirms what they already knew, Wall Street is crooked.
Just wait until banks start exploding like big zits. There are tens of trillions in derivatives that will soon prove to be worthless. Central banks will once again have to shovel the toxic chit that Wall Street created. I hope they have enough sense to let them go under this time.
Most of the people I knew who invested pre '07 are about to go under, and of course are in no position to be buying anything except food, gas, mortgage. I feel really lonely, but sure don't want to join them. The suckers didn't show up because they've already been sheared, roasted on a spit, and the remains tossed on the bone pile. The final scam was FB: another mass wealth transfer.
good points. must be the Spanish bond yields at 6 month highs. No one wants their junk debt unless there is a huge return. US Debt will be that way in a year or two. wait until US rates finally rise. The Government cuts will be unreal. Grow your own food and hold guns and gold.