Cu Penny Hoarder wrote:ES 1830 (last Monday's flash crash bottom) will be re-tested. It will fail and the market will drop precipitously after that.
Hold on tight.
like a moth to flame, since Nov 1981 when I was almost 22, I would estimate 85% of every trading day, I was watching the ticker, mostly agricultural commodities, and some stock, crude oil. If I wasn't grain or pork trading, or crude, i'd just watch.
having done this, one can see patterns, whether the market is cooking, or moribund.
my point being, the PPT is fighting like hell, I would ASSUME goldman is hq, and the six too big to fail banks are in on it too.
I don't know this for certain, but i'm beginning to discern how they operate, it would be impossible to "support" multiple issues...stocks, so I believe they reserve their main attention and firepower on five companies: (which comprise a majority of the markets value)
Apple, Amazon, Google, Netflix and Facebooknot saying they don't goose other issues, but these are the battleground stocks imho.
do they trade stock futures?....maybe, but it would to me, (thinking with their craven minds) better to goose the underlying stock rather than the futures.
and have you all noticed how moribund the PM futures have gotten on these days? I would think that any savvy smart operator has realized the futility of trading PM futures in light of the seeming disconnect between the board and the physical. The once heavy hitter in the PM futures market is probably spending their trading day, lining up the actual metal to purchase, instead of continuing an exercise in futility.
just looking at the tape this last hour and a half, the only way the PPT will have any success is if the numerous funds and other strong sellers.....stop. the PPT is throwing unimaginable amounts of "money" (just Fed pressed digits) at these markets, and its being met with incredible selling power.
If I was a hedge fund manager, I would have been flat on stock, last week...no stock, and put the cash in 30 day Fed Funds, or 90 day tbills, and sold way in the money VIX puts, and trade from dollars to Icelandic Krona's.....but that's just talk.