Knock Knock, Who’s There? Its The Fed + The World

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October 7, 2008

Fed buying commercial paper.

Its the Fed, the world, the PPT and they are about to rip the short’s face off.

If you didn’t cover yesterday, and you decided to go against me and these signals overnight because you thought BAC still matters to the markets. You are fatally flawed. Today’s move will likely make the Friday entry profitable.

Seriously, don’t be short here if you enjoy money. I have two open market orders to buy SSO.


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  • poi

    what price are you trying to pick sso up at?

  • http://www.stockrake.com StockRake

    Here.

    Expecting another eod rally again?

  • poi

    The markets are way oversold. It's amazing they haven't had a significant bounce yet. There's no logic to them at the moment. Gold in any other market would be well over 1,000 / oz now.

    Some are saying the dow will bottom out around 8,000 – last week I wouldn't have believed it, now – I'm not so sure. It's certainly possible.

    Here's hoping we have a huge up day before then though – so I can off-load some of my longs!

  • poi

    what price are you trying to pick sso up at?

  • http://www.stockrake.com StockRake

    Here. I already bought SSO today at a horrible price. Holding onto it though till Friday where I expect it to be profitable. I wish I waited though again.

    Expecting another eod rally again.

  • poi

    The markets are way oversold. It's amazing they haven't had a significant bounce yet. There's no logic to them at the moment. Gold in any other market would be well over 1,000 / oz now.

    Some are saying the dow will bottom out around 8,000 – last week I wouldn't have believed it, now – I'm not so sure. It's certainly possible.

    Here's hoping we have a huge up day before then though – so I can off-load some of my longs!