I expected the earnings season and mainly this week (this week is very important to determine if the market gets a new impulse to reverse and continue upwards or further deteriorate) will bounce the market up. It happened and the market (SPY) rallied today and closed at 132.73 (which is at the intermediate resistance level). Tomorrow we may expect a gap due to Apple and its great earnings report. However, that may be all we can see as good news for the market. So the following weeks we may see further drop.
Overall, I think the market will go down to 126-ish level to complete a head&shoulder pattern, partially due to European crisis, which is not over and will return back as well as the US debt crisis which is waiting round the corner. I will wait until Wednesday to see, if I will buy SPY calls to protect my portfolio and ride this short bounce up.
Today I also bought XLF September 17, 15 strike put, because the financial sector overall is underperforming and as banks will be reporting their results (which I think will not shine to boost the industry) this market will further drop down.
‘Recapitalize Banks’ = Citizens being forced to pay for the Gambling Losses of the Banks by inflation-tax.
Funny how Banks are exempt from the Free-market Capitalism principles. Most other businesses, go bankrupt when they gamble and lose. But Banks have bin-Bernanke, Trichet and Lagard… moles whose job is to trick citizens into paying for the losses of the Banks. WSJ and the Banks love Marxism, sometimes. WSJ even finds Lagard to have ‘erotic appeal’, -that’s how much they love her.
in the USA, bin-Bernanke has been very successful. GoldmanSachs gave its highest bonuses while bin-Bernanke was ‘bailing’ them out. The Strippers in NY and GoldmanSachs employees love bin-Bernanke. European banks are having a harder time getting their cash. Europeans are not as naive as Americans, -but they are getting there
Interesting article about investing. It’s very unfortunate that over the last several years, the travel industry has had to deal with terrorism, SARS, tsunamis, flu virus, swine flu, plus the first ever true global economic downturn. Through everything the industry has really proven to be powerful, resilient and also dynamic, finding new solutions to deal with hardship. There are often fresh complications and possibilities to which the marketplace must once more adapt and act in response.
The game is RIGGED folks! The banking mafia made sure that this rejection was tied to a “no confidence” vote of the Slovak government, which means that a new government will be sworn in this week. It also means that the vote will come up again, and the banker’s boot-licking stooges that have been hand-picked to come into power know just what to do: pass the slush fund and get on with campaign “donations”…and their new found power.
haha nice profits heh? I like intra day trading, you can make even more money, but be careful, you can also loose a lot!