Stock Futures Up
July 14th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument.
HA. I love it. Just remember this:
Pop goes the weasel.
It’s so easy to screw with shorts, short term. Bullshit press release. Market makers collude and stand on the bid for a few minutes or even hours. Maybe the index futures take off bullish. It doesn’t take much to get them to cover.
Enjoy the show!
Posted in Economy | Top Of Page
I was just looking at the 5 minute chart of the SP futures (time: 9:43 EST, USA), and it’s already showing signs of “lost enthusiasm”. Then the thought occurred to me, what if, after this insane announcement aimed at buoying the markets, the major indices finish down for the day? What kind of negative indicator would that be? And more importantly, what’s left to keep them up, if this kind of “she-can’t-take-it,-captain,-the-engines-are -going-to-blow!” act of desperation just fizzles out?
Exciting times, that’s for sure.
PS, 9:48, and it’s down over 6 points from the day-session high.
So people think this Fannie Mae/ Freddie Mac crap is going to be good for the economy????
What a society of utter childish short-term thinkers we’ve become. We have so brought what’s going to be coming down on our heads on ourselves!
All of the slop is tanking now. Dow/NAS/SP500 all red.