Floyd's Trading Blog

Okay, so here's how they are reporting it. I chose reputable middle of the road media messengers in Fidelity, Bloomberg, and Market Watch

1. Fidelity Investments:

Wall St rallies as Fed stokes risk appetiteWall St rallies as Fed stokes risk appetite
REUTERS—28 MINUTES AGO

Stocks rose sharply on Thursday as risk appetite escalated following more monetary stimulus from the U.S. Federal Reserve in a move to boost a wilting economic recovery. The Fed's plan to buy $600 billion in Treasuries lifted risky assets, including commodity-related stocks that rose on expectations of worldwide demand. Oil and basic materials equities rallied on the greenback's weakness.

2. Bloomberg: http://noir.bloomberg.com/apps/news?pid=20601087&sid=a3o3eQdjgIOw&pos=1

3. MarketWatch: http://www.marketwatch.com/story/us-stocks-rally-day-after-fed-boost-2010-11-04

And Floyd: The stimulus should have been part of the original stimulus, but Obama was afraid the American people would not accept it. The buying of debt puts us as huge risk, but no part of what Obama did in the first two years even should have been about unemployment, but instead tyring to stop the imploding of the world's economy. We came that close.

So yesterday everyone got happy and the world was better, and the market went UP on borrowing more money and creating more deficit. It's hard to fathom our stupidity at times.

We raked in on the call, and sold the put at stop loss. The market had reached a two year record top of 11,467 by 3.15 p.m. The call we saw happen. Somone had an offer in to sell at 17.20 before opening, and someone bought. That led the option price, and it only reached it again by 3.15 p.m. Several of our traders were part of the lead in 17.20 price to sell before open, and it's an example of how bid / ask really is bartering.


We will not recommend any new trade for weekend trade, but believe the market will show some balancing on Friday.

We'll have new Dow Projections Monday, and stand by our bullish tone (no matter thinking nothing is really good). There may be correction, but this overextended market could continue.