Global Perspectives: Keeping Believers Informed, Equipped, and Prepared

Home Our Perspective Market Update
Market Update PDF Print E-mail
Written by Steve Meyers   
Tuesday, 31 August 2010 13:11

Chop Suey is on the menu today. We sit and wait for any movement to tip us off. The ranges could narrow going into Friday's number. Will 1040 give way or will they run back up to 1070? We only have to wait 3 days to get our answer. The whole system is in jeopardy. That is why we see so many hedge funds shutting their doors. This will only get worse going forward. Forget running the market up, with everybody wanting to hit the exits, just holding it up is a monumental task. Bad news is everywhere. When we do get a "positive" number, there is always a story behind it. We will continue to chop until we break 1040 or we get above 1080. Treasuries have regained all of their Friday losses. Who predicted that? Nobody that I read. I have been trading a very long time and I never could have imagined what kind of markets we have today. I too may soon walk away.

Comments
Search RSS
Only registered users can write comments!
Ron Rebner |2010-08-31 13:28:18
NO, NO! Steve, you can't walk away, we need you as our Watchman! Market feels like the sellers are just sitting there waithing to sell into any attemps to move up. My guess is a break of 1040 soon.
SteveM |2010-08-31 13:44:58
I'll for sure navigate through October and get us positioned properly for the $ demise at that time. May just need a break.
Ron Rebner |2010-08-31 13:51:54
A break. No problem. You have earned it. Thank you for all your hard work.
Josh  - Are we going into a sell off? |2010-08-31 13:39:04
The markets turned. Will it gain any momentum?
RONNY P  - re: Are we going into a sell off? |2010-08-31 13:49:54
Josh wrote:
The markets turned. Will it gain any momentum?

another 90 minutes to go. All the markets negative. Hopefully we get momentum and break. dow under 10000, nasdaq on the edge 2100, sp500 also.keep our fingers crossed
Mars  - SP500 |2010-08-31 14:04:28
Was watching a Fibonacci fan line, and on the third attempt it broke below decisively @ 2:16EST
Hank Wernicki posted his updated 16-week SP500 wavelet cycle......and it projects a big drop down in SEP.

Steve, I think you should take time off whenever and for as long as you want. Everyone truly appreciates your work ethic, but you owe it to yourself and family to have some rest and relaxation. Thanks very much!
ronny p |2010-08-31 14:52:16
PPT at work WOW.We will see what hpapens in Asia this night and what will happen the next days
TitanTrader  - Fraud |2010-08-31 15:18:37
What a fraud to save 10,000 dow. Thought 1050 would be saved also.

I've been considering hanging it up also and would if I could get a decent return on safe bonds, Cd's, something.

Take a break, regardless of what ADP or the UE report this week , no one will care. The earning warnings are coming in now and Sept will be most likely be our time.

Drive down to Duck Key and do some fishing.
Anonymous  - Oops |2010-08-31 15:24:32
Forgot about Hurl Earl, better head inland. Maybe some Wild Bore hunting in Arkansas.

Umm Bacon!
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
Last Updated on Tuesday, 31 August 2010 13:13
 

Disclaimer

The statements, opinions and analyses presented in the articles and newsletters on this website are provided as a general information and education service only. Opinions, estimates and probabilities expressed herein constitute the judgment of the author as of the date indicated and are subject to change without notice. Nothing contained in this website is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision. Prior to making any investment decision, you are advised to consult with your broker, investment advisor or other appropriate tax or financial professional to determine the suitability of any investment. Neither GrainBelt Commodities, LLC. nor Steven R. Meyers shall be responsible or have any liability for investment decisions based upon, or the results obtained from, the information provided.

Global Perspective Audience