turn thursday, page-12

funny you mention dark cloud mong...

I was watching the US last night and the dow was up close to 200 points after the fed..was up only 34 points about half an hour before the close and then we saw a spike at the close..

I think that came about as a result of people just realizing what the fed is saying here...

Now;

1 - between the last fed statement and this one the market got absolutly smashed and the last statement was more foregiving on the economy then this one, if you look at this statement closely they are pretty much saying that there is no signs of stability at all..

2 - China issue, I believe that China is in way more trouble than what they say.

3 - AIG WILL need more money and WILL NOT get it this time. ( if you get a chance watch the replay of the hearing.

4 - Between, Eastern Europe and the broader Europe and the US we just need ONE more of the big banks to come up and say "hay, we are in abit of trouble"

Now if you need dark clouds, there are the above and many many more that could be discussed on another forum, but in short - SO FAR ( with great emphasis on "so far") rallys based on agressive government action and changes in sentiment have been wiped out and more.

For the XJO i am looking at 3580 and a considerable spike after to confirm a nice bull run.