I see you guys are in a festive mood. I am happy for you guys. Don't laugh at me cause I bought in at 75.50 and sold at 77.76 stop loss. after that I have been out all day and night too.
how can I ignore my biologist lady, right?
I am glad that I was right on the money again and that VMW run up to 78.25 before minor profit taking.
I must say...shorts learned their lesson for not respecting the real go shorty who is long on VMW at this level.
But as mentioned before, I must tell it like it is cause my tool indicate a potential gap down (profit taking) to 76 and run down to 75 rather than a gap up to 80s.
The fact that VMW traded weird today and that market helped pushed VMW higher, but the market will be hit tomorrow with another multi-billion dollar write down from WFC and Freddie Mac.
Plus econ report from existing home sales, probably not going to be too good. Fed Vice Chair to speak in NYC about potential rate change? if he does not indicate a cut...market will be in another selloff mode.
If the indication is a rate cut...market will contunue to rally.
So gap down based on current futures trading negatively -450. as long as we do not see -900 or -1400 in futures, the gap down show be minor at 76 and then run down to 75.
watch Nas carefully to determine if VMW can buck the trend and trade better than NAS. if not, we may even see 74 or lower cause my tool showed 72.60 this morning while there was a quote unfill at 72.89. so be very careful.
watch futures and PM and show give you a better indication.
my buy orders are set at 74 and then 73, hopefully we will not go lower than 72, but just filled that 72.89.
"Our call is simple: if the credit markets settle down, the Fed will probably stay on hold in December regardless of what the bond market is pricing in. On the other hand, if current market stress continues, the Fed will swallow its pride and cut the funds rate," said Ethan Harris, economist at Lehman Brothers.
and this quote: 'It is rare for the Fed to cut rates after moving to a neutral stance.'
I don't believe the market knows what is happening with the feds' call. Too close to call, but it will swing one way or the other on any news so watch yourself is best avenue here as you said shorty.. Dec 11th is coming up fast...
OK, so I guess he is notorious now for his little chatting with me, nuoninuo the biologist. But I'm still hanging out here. We'll see what he is going to spit out after he consults with his almighty tool.