the Force, while gaining strength and perturbed, is still contained, for now.
Be careful because the conditions leading to the rumble in the Force I saw on 7/21 have not materially changed. And the Dark Side is devious and cunning. It might be making a sudden re-appearance today: 06:19 am : S&P futures vs fair value: -13.3. Nasdaq futures vs fair value: -6.5.
It is in retreat now, but another hedge fund belly-upping, another Bear Sterns hurting, derivatives trouble, etc., and it will be upon us in no time. Perhaps even today.
Repeat, repeat, repeat: Wild swings = trouble on the horizon.
Message 23768187
Repeat, repeat, repeat: Conditions leading to serious correction have not changed, not changed, not changed....
One certain thing: The Fed will not lower enough to make a difference when the pig-in-the-python ARM reset effect coming next year hits. There will be much vomiting, much crazy SCREAMING from Cramer, much pain, much sorrow... |
