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Tuesday, October 27, 2009

Money Manager End of Year Markup

Market shenanigans for next 3 days.

I expect price action over the next 3 days to appear to defy gravity.

This is the end of October and the end of the year for Money Managers.

Many will pull out all the stops to push up prices in an effort to use the higher looking performance even if it is only good until Friday close to claim the final print as their end of year return.

So I expect a early AM dip and the drive will begin and lasting relentlessly all day... and for Thursday the drive will continue until the end of the day ....for Friday Prices will appear to be frozen in space and time into the close........Monday will be release day...ie : sell sell sell.

I am expecting at least a 2% push....could go higher.

My Spy trade plan in the AM Oct 28 ,09 is to buy the low in the first 30 min's Spy Gap fill 106.00 down to 105.50 and hold until spy 107.79 up to 108.50 ....will do a premarket up date in AM

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