Wake up knack, post on market at monent and back to bed:)<<Industrials 8175.77
Transports 3364.58.>> (in this post i am not discussing bounces, as our bounces intraday, or 48 hour are bounces that then fad away) i am just watching move in DOW futures that is so blatant. Went from -72 to -34 in 2 ticks.(They have now JAMMED the DOW futures 100 points in 10 minutes they are NOW green at +19--and am now of alert for G/C tomorrow as most common cause of a G/C is futures ramp up allowing big big important money to GET OUT in the first 15-30 minutes after the open)
It is my view PWG is working all this night.
i wish people took this seriously, they could avoid a lot a pain if they did( how many re-entered bigtime at end of day of the ONE DAY of WONDER DAYS????)
When they battle and succeed muffling futures , down days can be worse, as they muffle the gap down and then we sell off most of day.
i can only re-iterate, as long this crisis goes on PWG/PPT buying futures will be SOP.
As i say this is nefarious man in black, it is known, and legal under their Mandate and NOW there is European PWG in official existence.
To be blut the SPX would have hit 720 a 3 weeks ago, and are in rally now.
All PWG does is make it much more dangerous in attempting for one to buy the bottom when they are constantly fighting having a natural bottom to form.
People hesitate and hesitate re-entry, because the pattern never a is full scale puke and capitulation. PWG are the makers of dragging out, stalling, what could be done in two days.
The SPX present P/E is about 17.5 -1 with earnings projection for next quater to make it WORSE.
Fair Value at times like this is 15 present tense. And NOT, repeat and NOT 20.
Forward eanings are almost always over estimated 10 to 20%.
Fair Value is now 770.
Bottoms in 74 and 82 were reached P/E of beteen 6 -1 and 7-1.
When market hits 10-1 it is undervalued historically, even if drops to 6-1, because the bounce of 6-1 is ferocious, and it get back to 15-1 in a matter of months.
The lowest P/E on record since the WWII, was in about 1949 at 4.5-1 and lasted in that are for significant time.
Many people i respect see this recassion easily the equal of 1982, which means a bottom should not be reached until a break below 10-1.
i feel the killer ahead is Crude will start rising as new year commences and will get to 85, and will enter an 85/100 range later on.
People need realize, as before the 2004 election, Bush had the spigots open on the SPR now for about 2 months, i am sure he has them now closed.
By law the SPR must been then returned to full capacity for security reasons.
So we will not only have spigots closed on SPR, they will be having the used up reserves replaced.
As long as dollar holds up 85 a max number, dollar weakens we are back to 100.
For all OPEC country a price above 70 is ESSENTIAL.(there target is to be in the 85-100 range)
This wondrous drop in the crude price has been a combination of things, those factrs will be altered.
ALL/ALL commodities DOWN at close of this post
USD still UP UP UP now 87.86.
3months Bill now just 00.15%! Ted Spread now down to 2-1 (2.00) normal is 1-2(00.50)
Asia killed last night(-5% area) Europe flattish.
DOW now has moved from -72 to +42. Back to bed; Max |
