Intra-Day Update: Sweet Gyration!
UPDATE 12:10pm EDT: Well, thus far this rally has no meat on it, but I think we may be in for a little surprise in about an hour. Remember FED chair Bernanke gives a speech at 1:15pm EDT, the FOMC minutes are released at 2:00pm EDT, and the Consumer credit report is released at 3:00pm EDT. So, maybe we shoot up an then drop as the market digests that the mean FICA score of U.S. consumers is dropping below 300?
Stay on your toes today – this market is about to either pop or drop.
UPDATE 1:48pm EDT: Folks, if you’re delta negative (as I hope you are 😉 you might want to start taking profits. Yes, we get the CCR later today which should be ugly. But I’ve taken down some big winners like FSLR, GOOG, DRYS, etc. I’m also cutting anything commodity/agricultural related (MON, POT, etc.).
UPDATE 2:09pm EDT: Feast your eyes on the chain of fools:
CLOSING BELL: This was a good day for the masters of evil. Hope you guys banked some coin today. Your homework for tonight is to reflect on the fact that ES was the only blog projecting a drop last night. Everyone else was bullish to the hilt.