Thursday, January 15, 2009
Nice mid-day reversal from 200 down
to plus 90 before closing plus 12 on the dow. 8200 dow bounced off 8000 k again. The range is 7300-9500 a very tradeable range. The tech's saved the day. Obamas very high risk request for 350 billion tarp release was passed 52-42 today cause for the reverse. If not for the plane crash downtown NYC the dow would have climbed 150-200 points. It was too late in the day for the news to be clarified on the floor so they sold the news. Tommorrow the rally will continue? im sure If your long hold on. Its monthly contract experation tomorrow and now that the shorts side made the money its time to entice the long side back in. It began today with explosive long side bets. With the financial markets in calapse bank of america 8. citi 4. wells fargo 20ish the techs then the financials/infrastructure will lead AMERICA back out of the worst 8 yrs in american history.
Posted by John Burke makeitajob at 6:56 PM