mho
Check out the oil bump today.
Good morning and happy 'Dip-Day'! Yesterday's up-tick in higher volume is now being seen going into more gains w/ index futures +0.50%. Metals futures are looking to an even stronger +1.14% after yesterdays drops that now have gold'n'silver at $1,129.70 and $14.35. Lots of econ announcements to liven things up too:
8:30 AM Continuing Claims
8:30 AM GDP - Second Estimate
8:30 AM GDP Deflator - Second Estimate
10:00 AM Pending Home Sales
10:30 AM Natural Gas Inventories
Happy bargain hunting, I may even join y'all...
An insider has told me to expect an investigation into Monday’s Flash Jump Dump as some large # of stocks actually started trading 2-3 minutes early than the open — due to a computer glitch of of the stacks upon stacks of automated trading orders.
Stocks that should have had automatic trading stops due to volatility never kicked in.
If you had stops in it is a good possibility they got tripped in a lot of stocks and ETFs. If you got a whole bunch of sellers and no buyers the price plummets. It kinda makes me wonder if stops are a good thing. In a “Panic” it makes you enter a market sell just as everyone else did.
The Federal reserve keeping the interest rate so low for so long should be the issue, Democrat Economic Policies failed.
An ordinary joe could just put in a limit order on good blue chips stocks at 20% below current prices. If you had such orders in on Monday morning, you might have managed to buy something at a very cheap price.
The markets are up on some new & revised economic data. That’s good and much needed.
Tho since the econ collapse I have pretty much no confidence that the posted data isn’t largely to wholly adjusted to favor those in power.