Thursday, July 28, 2011
If so, no harm-we just wipe it off.
But if we're right and we expect to be, then nothing horn toot-worthy either.
1) We do not expect a debt ceiling/debt reduction deal done today.
2) We Do expect more and more fear drummed up in the media & amongst politicians and if you watch for long periods, we also expect you to need some antacids or "the pink stuff" to get you through the day.
3) We predict the Dow will close tomorrow at a range between +100 and -100.
You're thinking- well gee, that's not very committal is it? But it actually is because investors and traders are so Deeply Evil that they could easily look at yesterday's drop as a reason to 'buy on the dip' or they could stay focused on pulling the market down as part of the overall fear game which will culminate next week.
Now we most certainly DO expect a big market drop on Friday because it fits within the overall theatrics that Friday will serve as a 'prelude' or 'precursor' of what is to happen supposedly if the debt ceiling isn't raised on Aug 2nd. But let's stick with today shall we? ... Tomorrow will come soon enough.
4) We predict the sun will continue rising until it reaches midday, then slowly cascade downward upon the horizon until it is dusk, then night. And we predict people will live their lives today as they normally do, and with minimal exceptions, be completely emotionally detached from this "financial meltdown" farce.
Guess we'll see how we did by late tonight...
Posted by Susquehanna at Thursday, July 28, 2011