Anyone notice they gapped AMZN down in a big crush, right to a 1.000 ABCD???
So, my big question is this: another one day wonder??? We are right back to a critical price flow area. They are 'justifying' this downside with the Egyptian riots. But recall, when do they like to sell, and do one day wonders from? Fridays. Why, I think? Because is sets it up perfect for the Sunday night GLOBEX ramp Monday up day thing.
Usually they start it up Friday late afternoon. Not always, and not today, but many times. Maybe that's a hint we have something more here, maybe not. But let's say Egypt settles down this weekend, or 'they' realize who cares about Egypt. Then it's right back to business as usual on Sunday night. We'll see.
There's a good article I will post in the Economic section that everyone should read, it's part II of what I hope will be a series. It really points out how other than corrections, this market very well may go up until it finally implodes, as I have said many times before. It is now completely controlled by the powers that be, it no longer reflects price discovery, free market principles, supply and demand, fundamentals, and so on. Only manipulation and controlled prices.
It will remain that way, I feel, until the powers that be no longer control the system (or until they feel a move down is in their best interest). So, corrections maybe, resumption of what I think is the inevitable secular bear cycle, not until 'the end' as we know it. That may be this fall, or next fall, or maybe further out, as they are incredible at coming up with new ways to continue this insanity.
