Breaking News Bar

Business News and Information

Familar Friday Morning - Deja Vu All Over Again!

I’m getting some real deja vu here . Remember last Thursday , when Japan went up 3.8% and our futures jumped almost 100 points?  No not yesterday, LAST Thursday.  Yes, and that day ended up going down about 100 on the day, which was nice because we shorted into the pump (and we were already short for the week anyway.  So yesterday felt a little like that with just about 100-point gap up in the morning, followed by a downward slope all day.  Today is now feeling like last Friday , where we got another 150-point run-up on the futures but finished the day up only 50 points.  As I’ve been pointing out for quite some time, 200% of the last two week’s moves advances came in very thin, pre-market trading - the balance of the rest of the day is selling, punctuated by stick saves into the close .  Our man Cramer says you should take this as a sign to BUYBUYBUY (and Retail of all the stupid things) but I say it’s time to RUNRUNRUN as the inmates clearly have control of the asylum and we have better things to do in the last two weeks of the year than play " guess what BS moves the market this morning ."  Last Friday it was the Jobs report, which we already knew would LOOK great as the seasonal adjustments made easy comps but we also knew it was a fantastic shorting opportunity ( see last weekend’s Wrap-Up ). So we woke up this morning to the same nonsense as last week and what do we do?  We short the market of course!  While you were sleeping we Emailed a 3:54 am Alert to our Members indicating the Dow Futures were ripe for a short play at 10,400.  We followed through with that play in chat and were stopped out at an average of 10,389, just 11 points but very satisfying at $5 per point per contract.  We don’t play the futures very often - only when it’s obvious.  Our next entry point is a cross below 10,390 with a stop at 10,395 (10-point trailing to be safe ahead of Retail Data).  This morning we had an international pump-fest including: A regulatory change , designed to let them temporarily count billions in future tax benefits as capital. Moody’s Investors Service said it has no current plans to lower its top debt ratings on the U.S. and the U.K. German chancellor Merkel said healthier members of the euro zone…
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
bottom clear