04/03/2012 Live Update

[BullBear52x]

Does anyone know what the news is???

I guess we did end up seeing another wave down

FOMC minutes

I know it's FOMC, but I guess they are saying no QE3....??

end of Twist and lower out look, not mention the number just lower. I guess, less than 2% GDP. my guess.just guessing.

[stucap]

FOMC SAW NO NEED TO EASE ANEW UNLESS GROWTH SLOWS, MINUTES SHOW
MOST FOMC PARTICIPANTS SAW `LITTLE EVIDENCE OF COST PRESSURES
FOMC PARTICIPANTS SAID LABOR MARKET CONDITIONS HAD IMPROVED
MOST FOMC PARTICIPANTS EXPECTED INFLATION RATE AT 2% OR LESS
MANY FOMC PARTICIPANTS SAW `EASED' STRAINS IN GLOBAL MARKETS
MOST ON FOMC SAW TEMPORARY IMPACT FROM RISING OIL, GAS PRICES
FOMC SAID SIGNIFICANT OUTLOOK CHANGE COULD ALTER 2014 RATE PLAN

In theory --- we should give up all the gains this year that we've had on expected QE3

But, that isn't part of the BTFD code so BOING!

[MrMiyagi]

High $TRIN number +2.09 might be signaling an up day tomorrow.

[johnnywa]

I thought i heard a possibly higher revison of GDP,if lower you would think more dovish

[Al_Dente]

THANKS Junoon123 and stucap

[TraderGirl]

Was that it, or more down...???

[johnnywa]

Was that it, or more down...???

1404? turndate today/tomorrow?

[stucap]

Was that it, or more down...???

BTFD --- just follow aapl to the sky.

[Cobra]

doesn't look like a good rebound, so probably more down?

[Ed02]

I plan to buy with the last 35% of the 401k. The economy is good now!

Seriously, will buy at the EOD if closing in green.

[stucap]

I plan to buy with the last 35% of the 401k. The economy is good now!

Seriously, will buy at the EOD if closing in green.

They reverse this --- the whole world will go long (for a day)

[johnnywa]

I plan to buy with the last 35% of the 401k. The economy is good now!

Seriously, will buy at the EOD if closing in green.

They reverse this --- the whole world will go long (for a day)

Maybe break 1400

[TraderGirl]

Check out the dollar via UUP...

[MrMiyagi]

Here's the puke that was leftover

[uempel]

Last chart for today, possible supports:

[Cobra]

yesterday's low could be the support. bears need break it to show strength.

[BullBear52x]

Thanks Cobra and everyone, GLTA

TA note: daily candle, Bearish Harami?

[stucap]

Resistance is like a feather. Support is like a rock. Just BTFD (but first check with Benny to see which dip gets bought and which 'meh)

[taggard]

I plan to buy with the last 35% of the 401k. The economy is good now!

Seriously, will buy at the EOD if closing in green.

They reverse this --- the whole world will go long (for a day)

Maybe break 1400

maybe it doesn't mean a thing--but qqq up 13 weeks in a row--we need a weekly down bar sooner or later. since this is the first time in qqq's history it's beat 12 in a row up you have to be wondering.

as for the economy

http://www.nasdaq.com/article/worst-us- ... 0330-00990

"You can only squeeze your expenses so much. At some point you have to lean on revenue growth," said Joseph Tanious, market strategist at J.P. Morgan's asset management unit in New York. "That's kind of where we are."

the short version is back out aapl and you wind up with spx profits growth of 1.8% which is not cutting it. in the past if you backed out stuff like AIG (phoney earnings) the number was even worse. so clearly a bad earnings season is a good reason to get long.

what will be interesting is if the fed does chill due to the race for pres. there is some concern on their part that they should avoid political stuff--if this is really valid (have no clue) then you would expect minimal action between say may or june and late nov or early dec. or roughly the time that ecri is predicting the start of some sort of recession.

the idea i think is worth taking away is that there is no question the "recovery" is weaker than past events of it's type. and that things can turn on a dime. if you are weak and get exposed to disease the risk is higher.

[uempel]

Definitely last chart