Cashin was saying last night, we're close. He thinks maybe a base can be built by the end of next week. But, he also said, if there's bad news this weekend, people might sit around the breakfast table and say to each other stuff like, I told you to sell, now we're down 15k. And, then he thinks people may throw in the towel Monday.
Nasdaq A/D line yesterday was almost even, and BPCOMPQ was barely down and above last week's lows, put/call is 1.27 - at the Sept. lows level, which leads me to believe we COULD be just testing the prior week's lows.
GS is bringing some big offering stuff out this week, they can't do that if the market crashes, IMO.
One thing that bothers me is, everyone has a low coming up soon, 6/24, 6/26, 6/28, 7/3. Well, if everyone knows this, it's just not going to happen that way, IMHO. |
