Hi AJ, yep 50% of 1575 would be 788... now for fine tuning, markets do not bottom on Friday.... or for Thursday for that matter..... If we waffle around a bit today and sell off into the week end and the skies open up and we fall hard on Monday, that would be setting up a Turnaround Tuesday low.
I think we all have to admit that the equities indicies have really been thrashing around for several weeks, down 3% up 4% hugh intraday swoons and pushes upward that at the close don't show much change at all.
A year a go I was buying into the idea that the VIX could no longer get up to these 70 type levels and hang their due to some magical tightening up of option spreads.... just shows that I know nothing I'm looking around for German WWII overcoat and helmet to don so that I can audition for the part of col. Klink..... "I KNOW NOTHING".
But seriously, looking at the daily charts of the 3 indicies SPX DJIA NASD ; and then crude and the USD, it really appears that all of these present trends are getting long in the tooth and we need to start thinking about some changes in trends; USD may take until end of the year to rollover, and can anyone find people in the energy trading complex that still have at least half their fingers ( some times there are costs when things blow up on you!)
Heck I had some guy up in Westport connecticut email me with a job offer last night, he was rattling on about market commentary and analysis....who would have thunk it. I think I may need a change from Houston. It's a fun city but it just all so Houstonian.
My brother Pete has the valuation space all staked out with the boutique retained executive search firm that he has been with the past 11 years, and he travels on business every week. Atlanta this week, Vegas last week... New York and Chicago are perennial way stations, lots of trips to London.
He actually knows all these valuation "experts" at the big 4, the ratings agencies, the Navigant and accenture's..... Hoolihan Lokey. He's probably got 8 years worth of business that these companies want to get out of in in the next 18 months.
I know we where trying to nail down a face to face meeting with the UK Financial Services Authority head that was in charge of regulating and overseas all this SIV, CDO, CDS stuff.
If we could have pried him out of that gig we would have found an accounting firm, Bank or other player that would have set him up with the really big time compensation package. I was working that one two years ago this month over the thanksgiving weekend.
c'est la vie.............
John |
