market rallied today based on a mixed news. good earnings or upward revision of earnings for companies like GE, Walmart, and tech companies. Goldman Sach's CEO Blankfein also agreed with Morgan Stanley's CEO John Mack that the recession is closer to the end than it is to the beginning. I however feel very different. If they really knew what was going on, would they be in this credit meltdown? Consumer sentiment comes out tomorrow at 10am. There is already an article on Bloomberg saying it will be pretty bad.
Consumer Sentiment in U.S. Probably Fell to 16-Year Low on Jobs By Courtney Schlisserman
April 11 (Bloomberg) -- Confidence among U.S. consumers sank to a 16-year low this month as the labor market continued to weaken and gasoline prices rose, economists said ahead of a private report today.
I am short overnight four ES contracts. We'll see how it ends up.
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