Market View Update ( 9/23/08)

      
        Market did not get what it want and responsed a sell off  by end of session.  But over all, market is orderly retrace, VIX  get higher again, but still in order.  S&P once again below  1200 which is critical defence line to keep.   It is possible that S&P re-test  1150 tomorrow if  Congress still can't conclude on  700B rescue plan.   I think by end of this week, Congress must provide something to calm the market which gradually lost patient.  This is critical time again,  it will be  a make or breake deal.  VIX could shoot up again to form a double top pattern. 

      Congress known there will be severe conseqence by not passing the 700B rescue plan.  That will be desperation.  The hopeless to the Congress, to US financial system, to US Corperation will build up humongous power to destroy the market. That will be real MDW -- "Massive Destruction of Wealth."  No one could afford it. The time is ticking.

    Now it is just like Chinese word " 危机”， Crisis and hope are hand in hand. " 危险和机会共存” Once the bill pass,  we will see a huge rally hit the market. Market  once again become extremely over sold. Any good news could launch a huge counter-wave.

We may play waiting game tomorrow.  But the deadline is Friday. No more time.  Let's wait and see.

Happy Trading!

[wavePlayer]

回复yw02的评论:sure.

[yw02]

Thanks so much for sharing your experiences and views with us.
Your market review is the most important article I read everyday.
You helped our inexperienced investors a lot. I followed your calls recently and made up all my loss this year.
By the way, I bought some AAPL calls yesterday. When you close your AAPL calls could you please post here or DQ?

Once again, thank you!

[ut1984]

回复wavePlayer的评论:
thanks a lot
就是最近发现dow 跌 oil index也跌 赫赫
不知道老大短期对oil怎么个看法?谢谢

[new88]

Ding!

[wavePlayer]

回复ut1984的评论:Oil index does not related to Dow. It's based on pure oil price and some oil companies trading index.

[ut1984]

老大 我有一个问题 请你给讲解一下 先谢谢您了
我想知道OIL INDEX 的的变化是根据DOW INDEX走势来衡量的吗？
他们两个之间有没有什么必然的联系？

[xiqingming]

Thanks a lot. In principle, I agree with you. However, I still have concern over the details of the 700B rescue plan. Any skepticism on the effectiveness of the plan can cause another sell off?