MY MARKET SCENARIO FOR TODAY fwiw, looking for gap down at open, consumer confidence numbers come in weak at 10 am, sparking more hopes for intra-meeting rate cut, market reverses and rallies, upside is limited though in front of greenspan testimony, at that point, greenspan gives us rate cut, which causes spike , then sell on news, or he doesnt cut and we tank, either way, i think we are going to tank back to our lows, quicker with no rate cut, but after rate cut, what short term catalyst do we have? best trades will be quick long scalps, then quick reverses to short side, this market is for quick traders only, if you do longs only, stand aside, you will get lower prices next week as greenspan will be done for awhile and earnings warnings dominate the headlines
not for the faint of heart here |
