October 27, 2008
Looking Into the Abyss
U.S. Stock Futures Advance as Traders Increase Rate-Cut Bets
“Futures showed odds increased that the Fed will cut its rate target by 0.75 percent. Traders are assigning a 26 percent chance of a three-quarter-point cut, up from no chance a week ago, while odds of a half-point cut are 74 percent.”
The test of 838.50 in the S&P futures was successful … not sure if it will hold, that’s anybody’s guess.
UPDATE: Brutal action in Asia means the futures have reversed after hours … so much for the “successful” test.
Cat: | Time: 9:55 am (utc+8)
October 27th, 2008 at 3:53 pm
Maybe another limit down open? October has been absolutely brutal.
October 27th, 2008 at 4:32 pm
@Brian: We’re in the selling begets more selling phase of things, lots of forced sellers, maximum gloom. :) Happily, anyone following the trend should be doing just fine.
October 27th, 2008 at 4:43 pm
I suggest naming the new newsletter ‘Happy Trends’. ;)
October 27th, 2008 at 5:35 pm
@Brian: I have to come up with a good name for it … many people claim that when I named my previous newsletter after the “Box,” I doomed it. :)
October 27th, 2008 at 9:48 pm
Say Chairman are you in the same line of business as the 53 cent a day cockatoo guru now ?
October 28th, 2008 at 12:53 am
Chav - Our illustrious Chairman is obviously making a bid to become a guru, except you’ll have to pay more to get less. Cockatoo is making the ETFs ranking available for free these days
October 28th, 2008 at 6:16 am
Everyone loves a news letter that makes them money. Assuming we are,at some time period,near a bottom, the chairman will eventually have a happy letter. I have noticed SDS showed a large black candle yesterday and a classic hanging man today. Also, I am seeing a lot of Positive divergences in MACD and RSI indicators. At least a short term rally coming at some point. If we recoup losses of this month in the next year- it’s like 48%
October 28th, 2008 at 10:10 am
@Chav: Yes, we’re both old fakers and now fellow newsletter hacks … I’ll have a dozen subscribers and Cockatoo probably clock half a dozen.
@The Piker: You’re a rare Cockatoo defender and advocate. Anyone can come up with a simple-minded stop and reverse system, and as she’s found out, you can’t even give that away.
@Hudson: We should do fine in time (no more tape fighting, young man!)
October 28th, 2008 at 9:35 pm
Man, just when I thought I knew my way around the trading interwebs, something new pops up! Who the heck is this Cockatoo everyone’s talking about (besides a colorful bird)?
October 28th, 2008 at 9:40 pm
@steve: No one important and someone best left alone and ignored (just like the cockatoo in its natural habitat).