Nov

3

If there ever was a day right out of the Iliad with Zeus deciding with his balance scale whether to let Achilles or Hector win the battle, i.e. the bulls or the bears win, it was today [2009/11/02], and not until 3:59 did the scales finally tip. What was it that caused it? Why did the junior operative from  the Fed state his worries about the banks? C only has 250 billion in cash, the most of any firm ever. What were the forces that led to this fourth reversal?

Craig Mee comments: 

Maybe the force was a market close to a previous low, in a overextended (?) selloff… The shorts' nerves became thin after a day of yours mine, and the bulls held out as stops could be more well defined.


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