It's time for a bit of teaching. All is NOT as it appears.
Barry Dunham is running for President. Obama's Mother's maiden name was Dunham, and she almost went back to her maiden name while raising her son. And, as a child, Barack was called Barry. So, Barry Dunham is running for President.
Hmm. Sounds less "Muslim" and "terrorist" now? Not as exciting?
It is ALL in how we SEE things, not as how things actually are.
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Most of the day on Tuesday the market held at support lines. Oil became the new trophy as fears of hurricane took over, and the FOMC led the day's fears, as the FEDS continued to politic on just how bad the financial crisis is, and who will do what. Bernanke is now in battle with other economists, and the "uncertainty" of the situation continues to unfold.
Floyd will say it again: we will have to bail out Freddie and Fannie. The numbers have been falsified for years, and the house of cards will utterly collapse without financial intervention. Oil, if we do not begin to understand the situation, will hit $200 a barrel, and the world economies will be devastated...ALL if we do not get a control over our thinking, our spending, and our understanding of what really is important.
Historically make note that we have seen this same pattern occur now a number of times over the past 6 months and that market upturns have typically been just under 500 points for the total upswing. We see this same situation likely occurring again within the next 7 market days. Some "event" (speech, oil, commentary) will trigger upside. It is also likely for downturn to take place, to our lower Dow projections, requiring a longer wait time for the call rebound.
Make careful note we are not suggesting a "bull run", but a "bull move"..... a short time trade range burst to the upside.
The Sept590C was easily day trade material on 8/26 for quick 1.00 per contract profits, as the market struggled around a 30 point range.
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