The Bonddad Blog: 10:35 Update

Monday, March 17, 2008

10:35 Update

The markets are still holding up pretty well. While they have all sold-off from session highs they haven't crashed hard. The sell-off is probably simple profit taking. My main guess is we're still looking at gap fade trading.

2 comments:

Zubalove said...: Looks like it's going to be a fun day to read your blog, Bonddad. I've been wondering though, what software do you use to to generate the charts in your screen grabs?; March 17, 2008 at 11:16 AM
Brett said...: looks like the market will trend down, but the players are still in the game. The early drop I attribute to traders covering futures position (Asia was rough last night)...the brief rise into positive territory probably had much to do with Bush's comments. now (12:23 PM) it's trending down again as no new news from Bush, and video of Bear employees walking out the front door after clearing out their desks.

Probably something like a 100 to 150 point drop by closing. Nothing earth shattering.

For today, anyways. The FOMC meets tomorrow. Will they make a move that'll shock and scare investors? We'll see?; March 17, 2008 at 11:28 AM