9:10 AM
Definitely a down day.
10:40 AM
Just off the meeting, and the market is up. Wow! The market is in a very strong bull mode. Hold on everything. I think Carl might be right this time. He believes that QQQQ should go straight up to $52.5 without any stops.
2:00 PM
The market hold on very well with many bad news today. Consumer confidence slippery, the August housing existing houses sale news, Lennar's very bad earning, Target and Lowe's lower sales, BP's warning on its earning.
This market will go up much higher. Stay away from the market a little bit. Let the market do its things. Another observation is that whenever there is a housing bad news, other sectors goes higher. That means people are buying into the market and dumping their housing investments.
I am very glad today as last night, I have predicted that PIR and BBBY will move lower. Today, PIR is down 11% and BBBY is down 4.5%. It surely increases my self confidence.
10:30 PM
China and Tech stocks had a very good day. The trend looks to be up further. China stocks are very volatile. Be very careful. Major play for tomorrow should be profit taken.
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