Closing hour:
ES is charging now, at 1186. The DOW is at 10871, it's as if yesterday's close did not even happen. Bear market rallies tend to do that, which is why panicking never gets you anywhere.
The last half-hour will tell us if funds are starting to get back in, or this is just another squeeze like we have seen all week. But anyone that did not close out their shorts at SPX 1133 with the VIX that high is asking for trouble.
QQQQ could charge up to 41.48, target on this push.
update: QQQQ target reached. ES back above 1200, hit a high of 1210. What a squeeze. A whopping 70 points off lows for ES (same as a 700 YM point move in contract dollar terms, although YM did 450 points off lows).
ES is charging now, at 1186. The DOW is at 10871, it's as if yesterday's close did not even happen. Bear market rallies tend to do that, which is why panicking never gets you anywhere.
The last half-hour will tell us if funds are starting to get back in, or this is just another squeeze like we have seen all week. But anyone that did not close out their shorts at SPX 1133 with the VIX that high is asking for trouble.
QQQQ could charge up to 41.48, target on this push.
update: QQQQ target reached. ES back above 1200, hit a high of 1210. What a squeeze. A whopping 70 points off lows for ES (same as a 700 YM point move in contract dollar terms, although YM did 450 points off lows).
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on Thursday, September 18, 2008 at 9/18/2008 03:05:00 PM.
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