I love reading all of the downside predictions on this board after a few down days. You are already living on borrowed time. Enjoy the weekend, next week may not be as much fun.
I'm still seeing individual stocks being dumped at low volumes. My CF plunged -$4/sh today. I sold my OCT puts too early this morning when it was down only -$2.32. It broke definitively south of it's 50dma. Sold my OXY NOV16 puts @ support too.
I added HES & DE NOV16 puts today. Looks like there's still some unloading at low-volumes, but the indexes are still being buoyed.
All it takes is media coverage of another riot, or mexican wal-mart crisis, libor rigging and what not. That is enough to buy a few puts for me. People on here jump on shorts when they are wrong but ninety percent of the time it's just buying protection. Besides that, if people really think that getting rid of volatility is a good idea, just get ready for the hyperinflation that follows holding these markets up on borrowed money. Your 401k can't buy the returns the big hedge funds get either and you won't be able to buy cheap stocks w out volatility w your fund mgr like in the past. Maybe trading calls will be good on upside, but gone are the 200+ point days for making money w it. To me, it is frightening how people just follow the heard into the slaughter house on here w out complaining about the rigging. Employment no's, earnings and the constant media babble about housing bottoms and guru comments as they go home with their multi-million bonuses.
It doesn't seem like the cash market is following the futures this week. We are up premkt and the beginning of the regular session and then get an intraday reversal. Wouldn't this action affect the predictive value of your VWAP futures model as a determiner of the direction of the cash mkt, Tom?
Shut up Tummy you jerk off you have no idea what you doing you went long and lost your #$%$. The trend is down.
And plasmabopeeps obsessed with your energy companies what did mommy always forget to get you a hess truck for Christmas so now you short energy stocks for a living? clown.
My prediction was 50 dma would be tested this week and I was right on! Now that we are sitting on it, it could go either way (A minor bounce to the upside or a sizable drop to the downside)