Im expecting either a GAP down to the FAS $10.00 ish level which will be bullishOr a GAP up and run hard
my feelings exactlytef
The effect of economic data (like housing starts) is to pressure the market throughout the day. So, I probably should wait until EOD to pronounce T4D to be clearly correct. I am a bull over a longer term, so, I hope T4D is right.
maybe that the jobs # last week exceed expectations? my expectations that is :-)LOLtef
looks like a tip of the hat to T4D might be in order so far he called action so far with all longs at great gainsbut we'll have to see by EOD how things turnouti;m still near 100% cash at the momenttef
The market is holding up very well so far. It seems to know something I don't know.
Thx all for housing update and views and yes, T4D called in opening post of this thread for eithergap down and rise orgap up and runhe might end up being wrong on both counts then unless he sold the ridiculous pre-AM pop up to $10.99who knows...we'll see by EODtef
T4D that would suit me just fine too,since then my TRADE #1 would probably hit 100% soonerand might even go 3X or 4X over cost before I close it.tef
See, this is where I disagree with T4D.The reason why the market moved today is to "price in" tomorrow's housing starts data (based on Lowe's economic assessment and the housing sentiment index).This means what is most likely to happen tomorrow is a typical buy-the-rumor and sell the news kind of thing. Unless we see a clear indication that we are about to or have hit a housing market bottom, we will slide down below S&P 875 levels.