S&P500 trend clearly broken…. now what?
I bet you thought i had the answer for ya.. I do not. Though i can say the general thesis over on my side of the table, “all the king’s men cannot put humpty dumpty back together again”, IS bearish. The magic hand cannot keep this market from falling, think “House of Morgan“, eventually the market will overtake the PPT (plunge protection team) no matter what the circumstances.
The price action we saw today (Thursday February 4, 2010) confirmed the street is indeed selling, which is NOT the standard tip toeing around whacking a few bids then reverse/retrace. Commodities, energy, tech and financials all fell today with vigor! Days like today give me chills, the feeling is so familiar. Accelerated selling out of nowhere is a product of retail, mutual funds and hedgies exiting the casino. The roulette ball has spun, settled and the inside numbers are about to be cleared. You lose. The only player who won sold 100 S&P handles ago, the rest of the players are left watching their chips swept into the black hole next to the dealer. Folks, this market will steal your money, if you are wise you will not be robbed.