So, remember I said something about we may see a reason for this bounce in the days to come, it's likely to be something that will spark some buying interest, but in the big picture, it's insignificant; ergo the Jobless Claims Report this am that came in a little better then expected.
I don't know, I post so much and write so many emails, but I do believe I have said or am about to, "Very few things happen in the market that were not pre-planned". In other words, leak on the jobless claims or what they were going to look like, most likely. Market just rising out of nowhere for no reason, not likely. That is how manipulated this market is, this is why Wall Street almost always wins, they write the game as we go along. Luckily for us, they leave little bread crumbs we can follow and maybe catch a sneak peak of what their up to as the busily set about their business of shaping the market.
I know it's hard to believe, even for me, but we see the evidence of it so often, how we can we just shut our eyes to objective data, even if it points to a world in which we suspected may exist, but had no idea that it was so much further along then we had ever imagined?
Stay Tuned.....
As for the market right now, it appears those who set their buy orders and headed off to work were made to pay a premium, those orders filled, the retail demand drops off, maybe even a few get taken out the same day on a stop order on the pullback. It's typical market maker stuff and shouldn't be read into for much more then what it is. 3C showed the pullback off the gap, but it happens quicker then I can type it. I'll keep you up to date, lets see what the tricks will be today.
PLA long triggered, also I got a trigger for IBCA but I need to look it up on the spread sheet.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
1 comment:
I think it's the Fed's meeting in Jackson Hole. I think people might be positioning themselves for "QE2.0" news coming from that.
That said, I am being cautious about a pop and fade like we say from the last FOMC announcement which included continued QE.
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