Seeking Alpha

The news from Europe torches a few dollar bulls, as all of the "risk" currencies melt higher to...

The news from Europe torches a few dollar bulls, as all of the "risk" currencies melt higher to the tune of 1% or more in the space of a few minutes.
Comments (9)
  • HiSpeed
    , contributor
    Comments (1112) | Send Message
     
    SPX rallying 40+ points in just last 40 minutes of the day had 'bear market rally' written over it imo.
    4 Oct 2011, 04:05 PM Reply Like
  • sean.parmelee
    , contributor
    Comments (790) | Send Message
     
    I think if we all close our eyes real tight our problems will go away...This is a shorting opportunity, if I've ever seen one. If the markets are so hysterical that they'll jump hundreds of points in a matter of minutes, they can just as easily nosedive on some little tidbit later this week.
    4 Oct 2011, 04:13 PM Reply Like
  • moreofthesame
    , contributor
    Comments (743) | Send Message
     
    The problems that the market is facing are the same that it has been facing for decades. I feel that the doomsayers are correct but they are putting too much emphasis on making it seem as if "now" we are facing the true disaster, before the disasters were just sort of half true but now the big chaos will emerge. I also believe that if we keep this course, chaos will emerge but we are still not quite there.
    Debt on a government level must not be compared to an individual having huge credit card debt. Credit card debt is a sort of luxury while government debt is a necessity and will never go away, in fact it must not go away, the economy would come to a halt.
    The US can still keep going for a while sputtering along, the big crash could easily be 5 or 10 years away. During that time, some amount of common sense could still enter the congressional dimsum and they know it.
    Once Europe is sorted with a bandaid, things could quiet down again for a while, with banksters still fumbling in the background but the frantic news will mellow down and the market might start breathing again.
    4 Oct 2011, 04:47 PM Reply Like
  • BetTheHouse
    , contributor
    Comments (147) | Send Message
     
    And of course, when you say "news" in your headline, you mean this week's latest bullshit rumor to try to justify this sick HFT manipulated market. Wonder if the good folks down at the SEC quit surfing porn long enough to notice the nearly 400 POINT swing in the DOW in the last half hour. They don't even try to hide it any more.
    4 Oct 2011, 04:36 PM Reply Like
  • sean.parmelee
    , contributor
    Comments (790) | Send Message
     
    Relax. SPXU is already up almost 2% in after hours trading. The ones who are really going to get screwed are people who went all in long before the closing bell.
    4 Oct 2011, 04:39 PM Reply Like
  • mdb666
    , contributor
    Comments (11) | Send Message
     
    It's all about trends these days...short term and long term....we were just short term oversold, so we moved back up on a quick squeeze...I would imagine the new short term "trend" would be higher...maybe S&P 1190 would be resistance?....then when things get overbought the short term trend will match the long term trend and we will head lower...this time with possibly more power as 1080 proved to be pretty good support this time around (just like 1101 was the first time). Now, having said that, all bets are off if Bernanke starts up again...then we will probably see 1250+...maybe even up to 1350 just like last time.

     

    Summary: we are still bound within the closing range of 1100-1235....we are seeing lower highs and lower lows which could mean that 1050 comes into play at some point since the larger trend is lower.
    4 Oct 2011, 04:39 PM Reply Like
  • moreofthesame
    , contributor
    Comments (743) | Send Message
     
    Just read the News in German from Der Spiegel and interestingly enough there were 2 points which surprised me. First of all, Greece seems to have "found" 1.5 billion euros in a reserve account from 2008 which will allow them after all to not go broke by the middle of october (instead the will go broke in the middle of November) and Japan seems to be very serious about helping europe financially, which sounds rather strange considering Japans debt but they seem to be serious.
    May be we will have a few weeks of quiet.
    5 Oct 2011, 02:35 AM Reply Like
  • moreofthesame
    , contributor
    Comments (743) | Send Message
     
    Also there is a German convoy on its way to Athens with investors from the solar field along with it.
    5 Oct 2011, 02:36 AM Reply Like
  • worriedwart
    , contributor
    Comments (678) | Send Message
     
    vat do u mean by,"convoy"

     

    lololo
    5 Oct 2011, 12:02 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector