If you listen to CNBC and Bloomberg they will tell you with absolute certainty that the World Bank is the reason the Futures are down big and OIl as well. When the news about the world Bank broke Oil went up from 69.46 to 70.05 and stayed up there until 5 AM. At 5 in my
groggy state I watched as oil was drawn and quartered al the way down to 68.31.
Last night overnight play nullified pocketed $250 from two productive scalps and the two o risk plays brought in the same reward to my chagrin. I mentioned the George Soros effect in the previous post it was just a few months ago his comments rained doom upon the markets so severe I thought he was trying to make his gold worth more. To me the market picks and chooses when and how seriously to listen to The World Bank or the IMF or George Soros and it it definitely did not react to the news of the World Bank recession look within seconds or hours for that matter.
The currencies were taking a beat down which to me has QE spec written all over it as well. There should be trading opp's because arguments and counter-arguments can be made and fear and greed right behind them there to drive the swings. I said it last night I wouldn't be surprised if it it did swing and now we have had at least one down.
The trend line is shattered all you technicians out there 68.31 ix through the glass floor but
with all this potential real data I'm not sure you can bank on a full correction either.
The QE comes out not trying to immeditley rectify the trillion it spent to blow the economy up Oil should rally right back. If the Fed in my opinion incorrectly starts to play with rates then a correction of more radical size might occur
and drop an email chrgr06@yahoo.com to schedule
Posts
