Dow, daily
Summary
*there was $2bn of QE fuel this morning.. a bounce was not unexpected. I'm kinda annoyed though that I didn't exit at the open.. I could have simply re-shorted already some 10pts higher. Oh well.
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For me, the issue now is whether we get stuck in the Dow 16700s..or keep on pushing lower to the Aug' lows. Where we floor in the current down cycle - from Dow 17300s, will likely shape the remainder of the year.
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*I'm resolutely holding short, will reassess near the close. Certainly, if we're in the 1950s, I'll probably close out.. even though the 1945/40 zone seems viable on Tuesday.
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For those in a particularly doomy mood...
Over at Mt Doom...
The first snows of the autumn (at least that I know of) are making things even more contrasting... a true land of Fire and Ice.
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11.41am This is getting borderline bad for the bears... at the current rate, we'll be positive by 1pm. If so..then its white flag time.