| I still think it could be the failing rally, but I'll wait to see what happens to bonds next week. I think the bond bull is finished - we broke out above 200DMA on 30-year and 10-year rates, and re-tested it 2 days ago, now moving sharply higher in wave C of (1). This is not good for the market, if true, although it may push stocks higher in the early stages of the move. In the later stages, there will be a total panic in stocks. JMHO...BWDIK? Again, IMHO nobody, including the Fed, can stop the bond or forex markets once they make up their mind about where they are going. Stocks can be manipulated, if needed, and they are. We have witnessed that in September, and now, as the option writers collected all the premium from puts. Once puts expire, look out below? A community which is record long and unhedged... It may also happen now, as people are waiting to sell the strong III quarter results. Everybody knows companies will beat lowered numbers, and everybody is expecting a big rise in the markets to sell into. A lot of sellers out there lined up for this one -g- |
