PM update:
Support breaks and it is getting scary, but again that is when you have to gather some courage. BIX (banking) is still green. SPX has now corrected almost 12%. The DOW has dropped 1000 points in seven days. NYSE hit the 20 month moving average. We might be in a bear market, but bear market rallies can blow your socks off and it is coming. Don't forget that option expiration week is exacerbating the selling as put sellers cover by shorting. But it eventually wears off.
Aug. 16 (Bloomberg) -- Manufacturing in the Philadelphia region unexpectedly stalled in August, as orders and sales cooled.
I don't understand why the Feds are not lowering rates. That guy Poole is creating havoc on the markets and should keep his mouth shut.
Support breaks and it is getting scary, but again that is when you have to gather some courage. BIX (banking) is still green. SPX has now corrected almost 12%. The DOW has dropped 1000 points in seven days. NYSE hit the 20 month moving average. We might be in a bear market, but bear market rallies can blow your socks off and it is coming. Don't forget that option expiration week is exacerbating the selling as put sellers cover by shorting. But it eventually wears off.
Aug. 16 (Bloomberg) -- Manufacturing in the Philadelphia region unexpectedly stalled in August, as orders and sales cooled.
I don't understand why the Feds are not lowering rates. That guy Poole is creating havoc on the markets and should keep his mouth shut.
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on Thursday, August 16, 2007 at 8/16/2007 12:27:00 PM.
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