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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 368.29+0.6%4:00 PM EST
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To: TobagoJack who wrote (80893)10/5/2011 2:06:01 PM
From: 2MAR$  Read Replies (2) of 217564
 
interesting period , with news of bailout backing for shakey banks out of ECB monday am , then this same report resurfaces late in the day as a "rumor" which bounced so many off the oversold ... and today again out from the IMF office holder who states they have many options at the ready to help with propping up Italy & Spanish debt .

Its not too difficult to trade contrarian when you see the charts so oversold on the brink and know they're going to get the "hopefull salvage" PR releases out of meetings. This rumor monday was already out 8hrs before of another fund set up to save distressed banks . English GDP weakened further so looks like they'll be starting up the presses again soon too , Spain seeing the worst jobless claims since 1996... so they're bouncing things but not going too crazy as they go holding at 1130...Gold held up well and popped here mid day , seems there were enough buyers that wanted this am dip .

Its earnings season , there is one thing we know fundies must have a shot at making some decent long trades to not have a total wash out this Qtr ...AAPL was ran off the lows some 15pts from the am where they let it fall low enough , was not caught flat footed and joined the party !;)

Earnings will be decent but frought with weaker guidance , but saw even Deutsch Bank warning monday couldn't be allowed to sink any further than $31.50 or be in 2009 territory, this they could not have.
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