yes, good points......add to that:Italians limit downgeneral...

yes, good points......add to that:

Italians limit down

general malaise in perception that there is no leadership to unroll the debt issue in the US

that the Euro zone houses some very unhappy consitituents that would rather see Greece dissapear and we know they'll default as they are offering in excess of 94% yields !

we all exist on the same planet so the debt issue is not the issue most people like to bang on about, what is the issue is the disappearance of credit debt and it's facility, which, is a negative loop borne of lack of lending plus the lack wanting to borrow......that's the real issue, imo

getting my head awash in the 'big picture' is something i tend to avoid these days as it's usually a ruse or a crutch for saying "i don't know" ....the three magic words that keep me out of trouble :)

having said all that i think fridays action is not as bearish as we'd be led to believe simply by looking at the charts....i think there is a willingness to allow price to come back down rather than with a little assistance.....afterall, whom would best benefit from these scary lows? If the bulk of hedges are nett short plus massive 13billion withdrawals of funds recently and every screaming-head that can get on the media is warning of hell then only two things can occur; we either tip into an abyss or we now begin a new and (likely) tortuous climb ....not that all moves are either just up or just down v/v 1969 to 1974 and are likely to now evolve on a much smaller time/price scale, imo

again, i come back to this simple truth; we know everything....all we need to know is in the public eye not that that means we know how to use or interpret what's available....there's a lot of valuable ideas that come out of that, having all the issues in the open, imo...what would kill us now is genuine unseen person-to-person event such an invasion or assassination but again that's a what-if that should be left alone......my point is; on friday the warning signal, or lack of upside continuity, from thursday was also played out in the premarket an almost tandem play of players with large sell orders hooking in small fish to buy what they were actually positioned to sell and this is precisely what makes me say that there has been some assistance to get price down.......

preceptually speaking, sitting at the low of fridays price chart, likely, youre seeing the world from that perspective and the world is not running on that perspective because each new session brings several game plans together......

there is a great misperception that is often repeat ad nauseam: that for every buyer there is a seller implying that there is one buyer for every one seller.....

for all the small traders who are suddenly inclined to sell their lots on any strength there is, more often than not, much fewer buyers buying that cheap supply and they dont have to rush and they got much deeper pockets........

each day is a merit of its own, each game plan is not a big wash of Faber, Roubini's or Prechter's (the 3 captains of yadda yadda)......steer closer to the urbane reasons of trade to keep out of trouble......note i am saying to keep out of trouble........inside that you'll find correct opportunities.......

imo, ime