Thread: tsptalk's Market Talk

Originally Posted by tsptalk

Gap filled. I feel better now. All is right in the world again.

My eyes may be getting bad, isn't there another gap down there in the 1217 area?

Not much working today, bonds/gold flat, ck out the dollar's spike in volume...

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Originally Posted by Minnow

My eyes may be getting bad, isn't there another gap down there in the 1217 area?

Sshhhh! I was trying not to think about that one.

Originally Posted by tsptalk

Sshhhh! I was trying not to think about that one.

Gotcha!!! iksnay on the other ap-gay!!! Loud and clear my friend.

Things I'm watching...

The 50-day EMA is being tested, but it hasn't been holding recently. Also, it's the close that matters, but right now the PMO is pulling back from its moving average too. (that could change by the close.)

Bernanke Was Right: Interest Rates Aren’t Going Anywhere

Last week's Federal Reserve policy announcement was a big one. In response to a tightening in the labor market, the Fed set the stage for an interest rate hike possibly as soon as June by removing the "patient" language from its statement. But it also acknowledged recent economic weakening and softness in inflation .

The bigger story was what happened with the Summary of Economic Projections or "dot plot" estimate of where interest rates will be over time. Fed policymakers dramatically cut the median estimate of where rates will be at the end of the year to 0.6 percent from 1.2 percent previously.
Translation: The Fed is only looking for two rate hikes this year, down from four back in December. This could be too optimistic.

More here:
http://finance.yahoo.com/news/bernan...103000852.html

CNN "experts" are saying the market will go down further. Time to buy?

really. That's usually how it works.

That was quick... bottom of the channel (and 200 EMA) is being tested today in Trannies. So far so good with the reversal, but there's 3 hours of trading left and as we've seen before, a weak close can erase that.

Oil going up for worries that Saudi will stop production? Seriously? Saudi stopping production? Laughable to even think that lol. It'd be like Hawaii trying to put a stop to the tourism industry.

Originally Posted by sniper

CNN "experts" are saying the market will go down further. Time to buy?

Originally Posted by tsptalk

really. That's usually how it works.

Yup. Usually with a reversal day like today.