|“Fuel rods damage at Fukushima’s 2 reactors estimated at 70%, 33%” – ZeroHedge|
What a difference a few billion dollars in added liquidity by the Japanese gov and US primary dealer offer taking can do for the index’s. The Nekkei crashes nearly 1300 points coupled with potential nuclear fall out from 4 massive explosions at the Fukushima plant SENT the US markets rallying over 20 handles from the lows of the morning…The price action today told me the markets are indeed even more so disconnected from reality stretching the rubber band even more….
We all know the markets historically ignore the current underlying economic situation, usually trading ahead of it. I would remain very cautious before you you go out and buy the F’in dip ‘BTFD’… You buy the wrong dip and you wont have a second chance.
The report of a fire at reactor #4 and the potential dropping of borric acid on the core with helicopters screams desperation…. The futures came in off their regular session highs trading below 1270 on news of this new ‘issue’. No amount of POMO cash can save us from nuclear fall out. remember that.
|5 min SPOOS.. watch over 1282..|
Over 1284 we are going to rip to 1300 just for giggles in my opinion. The entire move down to 1265 AH has been retraced by the magic hand of god already so gracefully i am almost choke up. Someone slap me.
Watch 1265 on the downside as a support level. 1250 is the ultimate line in the sand… It is clear it is going to take a hell of a lot of negative news to move out futures down.. thus i expect us to do nothing but chop around with an upward slope until fresh news hits the tape.