07/10/2012 Live Update

[Petsamo]

If we finish at the lows, who's placing bets for a gap up ?

How about a bet on a gap down and a run for the doors?

Market is overvalued by at least 10%, and ZH has a story today about SPX 1200 is needed QE3.
If they really need 1200 for QE - they'll take it there. They HAVE to have their crack.
100 SPX points is nothing in the scheme of things, not to these guys.

I'm not 100% long. That's my bet on a gap down. ZH are perma-bears. I try to listen to both sides.

[Mr. T]

If we finish at the lows, who's placing bets for a gap up ?

How about a bet on a gap down and a run for the doors?

Market is overvalued by at least 10%, and ZH has a story today about SPX 1200 is needed QE3.
If they really need 1200 for QE - they'll take it there. They HAVE to have their crack.
100 SPX points is nothing in the scheme of things, not to these guys.

I'm not 100% long. That's my bet on a gap down. ZH are perma-bears. I try to listen to both sides.

Yeah, both sides = but I find ZH entertaining.

[ClarkW]

If we finish at the lows, who's placing bets for a gap up ?

How about a bet on a gap down and a run for the doors?

Market is overvalued by at least 10%, and ZH has a story today about SPX 1200 is needed QE3.
If they really need 1200 for QE - they'll take it there. They HAVE to have their crack.
100 SPX points is nothing in the scheme of things, not to these guys.

I'm not 100% long. That's my bet on a gap down. ZH are perma-bears. I try to listen to both sides.

Yeah, both sides = but I find ZH entertaining.

Entertaining? Watching re-runs of The A-Team is entertaining, reading too much ZH makes me want to hide all sharp objects!

[Al_Dente]

"""too much ZH makes me want to hide all sharp objects!"""

[Petsamo]

We have support

[stucap]

We have support

just when you think the bull is dead --- BOING!

[MrMiyagi]

!!!!!!POWER HOUR!!!!!!
!!!!!!!!!SPX 1500!!!!!!!!!

[Petsamo]

!!!!!!!!!SPX 1500!!!!!!!!!

SPX 1600 forecast was brief

[Mr. T]

"""too much ZH makes me want to hide all sharp objects!"""

Hahahahahah

[Mr. T]

!!!!!!POWER HOUR!!!!!!
!!!!!!!!!SPX 1500!!!!!!!!!

Downer hour...... SPX 1200!!!!!



Only the turbo button can save us now...... and only if it's not in reverse gear.

[MrMiyagi]

Another sharp down day like today and we may see a reversal Thursday. Maybe the FOMC will do it.

Turbo button is in the shop, not much hope for it..

[bullbear12]

JPM is strong so no worries

[L_T]

CMI getting smoked. JOY and CAT making lower lows in response. Puts anyone?

[bullbear12]

maybe last 1/2 an hour , buy program

[Cobra]

almost 100% MM target now. I need see more bars before making my next call.

[KENA]

1340 is very close to chan support..Will we get a bounce..If we break thru we could go lower.Lets see.

[ClarkW]

JPM is strong so no worries

Why is it up with XLF down so much?

[L_T]

VMW wants to break down (5 min).

[OverUnder]

Cobra, I am speechless, absolutely blown away.

[SWalsh]

If the top chart is right (an A-B-C up finished), then the bottom is too. Or this could be an A-B-C that stops at 1332ish and puts in a try at a new high towards 1375 in an ED. If the first is right then the bulls will hopefully buy like the dot-com people, thinking it's still BTFD and not STFR. Unfortunately, many towns will be then like Stockton and Scranton and "The House of Mirror Game" is over and "The Crying and Shooting Game" begins.