Tuesday, April 7, 2009

FUTURES BLOOD RED

Market makers gotcha bulls . This was my concern trying to play long in an overextended rally. Doesn't mean go iin short ....but my little SRS feels better. I will continue to keep tiny TBT that I bought yesterday....I should correct if fear ramps up and I will buy more.....bloomberg is jumpin on the bulls this morning with the news...
April 7 (Bloomberg) -- U.S. stock-index futures dropped as George Soros, the billionaire hedge-fund manager, said the monthlong rally in equities won’t last and investors speculated Alcoa Inc. will kick off the first-quarter earnings season with a loss.
Bank of America Corp. and Citigroup Inc. slid 4.4 percent, while Alcoa slumped 1.9 percent. Applied Materials Inc. retreated 2.2 percent after a contract for solar equipment was slashed by $1.65 billion.
Standard & Poor’s 500 Index futures expiring in June fell 1.5 percent to 818.40 at 7:31 a.m. in New York. Dow Jones Industrial Average futures lost 102 points, or 1.3 percent, to 7,814. Both measures have surged more than 21 percent since sinking to the lowest levels in a dozen years on March 9.
“It’s a bear-market rally because we have not yet turned the economy around,” Soros said in an interview with Bloomberg Television, referring to the rebound in stock prices since March 9. “This isn’t a financial crisis like all the other financial crises that we have experienced in our lifetime.”
European and Asian shares also declined today. Alcoa, scheduled to release its quarterly report after U.S. markets close, will be the first Dow average company to post results for the January-to-March period.

4 comments:

  1. look for all pumping pundits to change their tune now

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  2. Kliguy, I'm liking your blog more and more. Keep up the good work.. rdsimoni

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  3. Now this is the kind of reporting I was dreaming about last night! For all you SNL fans "DA BEARS" will have it their way today! SA

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  4. Kli you seeing a triple top on the RTH?

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