2. Weird session second day as we get some evidence what some SOB’s try to pull with some help of buying power and the evil play to screw shorts right at an important chart point. That will work best when news flow is negative and shorts are confident. You go ahead and just buy themarket through the roof and have some rıumors spreading about QE3 at the end of the day.
What it did though was to close the gap and trigger plenty of buy signals as a wave 4 would not reach these levels the count or immediate downside potential is killed for now. Tomorrow more on how it may play out have to think about it as they screwed even after hours futures up theses SOB’s trying to pull something ugly.
Someone Leak Something?
Submitted by Tyler Durden on 03/24/2011 16:04 -0400
Something rather disturbing from a European trading desk…
TODAY TWO LARGE MACRO FUNDS OVER HERE HAVE GONE WILDLY LONG S&P. NOT LONG. WE TALKING 250% NET LONG. IT LOOKS LIKE CONCERTED ACTION ON GDP DGRADES FROM GS AND BOFA ARE THE LETTER DELIVERED TO BEN ON QE3. HUGE DIRECTIONAL BET WITH NEW CAPITAL PUT AT WORK. MOST LIKELY THE TWO INSTITUTIONS ARE COORDINATING ACTION WITH OFFICES IN CONNECTICUT. CHECK INFLOWS OF BLUE CHIP HEDGE FUNDS IN JAN FEB. APPLY 2.5 LEVERAGE. WE ARE TALKING ABOUT SOME 40-60BN PUT AT WORK PRIMARILY ON EMINIS AT THE MOMENT. WHETHER SOME EXTERNAL FORCE WILL LEAVE THEM HIGH AND DRY I DON’T KNOW. BUT IF ANYTHING SEEMED TO BE AT LEAST NOT TOO IRRATIONAL UP TO NOW, IN THIS THIRD WAVE, BE READY FOR REAL ROCK AND ROLL.