Leisa, Regarding yesterdays back and forth on the revs blog, at first I thought, what an asshole, but after a little reflection I'm just amused that you can revert to the behaviour of a two year old when challenged. Smiling, I am. Regards, Ninelinebind
I don't recall that we had a back and forth. I mentioned that worker's pay had not kept up with inflation and that pension benefits were reduced by cash balance plan conversions.You asked if I was including union members in that. My response was "Nope". I don't think that answering simply, a simply asked question is being an asshole. But I don't pretend to understand you mean spiritedness that most of the blog has noticed and a few have commented upon.
Covered rest of shorts this morning - expected a bounce as oil is at $55 - plus the futures premiums had diverged positively for 2 days - a sure sign of a bounce..Also the Vix diverged positively this morning and there is a possible 'Vix reversal' on the daily chartMoney was forced out of bonds right from the open - so some money that moved into bonds last friday came out today..The market began to rise as the USD fell...plus Ben B is speaking tomorrow and a break to a new low was just too obvious (after the market having been down near 10% on the week) Surprised by the strength in the bounce though - it broke through all the trendlines all afternoon...(program buying was kicking in all afternoon)I still expect more margin related selling and liquidation until the end of the year - but the selling seems to be gradually drying up...I imagine most shorts would have been covered today when Busg made the lame comment that "The global economy faces the possibility of total meltdown"Bulls need to see stabilization now... and either a trend reversal (or at least a sideways ranging market)nice
Nice--The treasury auction did not go well--perhaps the specter of higher rates is finally settling in. So many are short the market, that in light of redemptions, some covering would have to made (for those short) to meet those redemptions. Tricky stuff indeed, all of it. And violent action as 'real' prices are discovered.
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