Merkel moves to recap banks sets off rally Oct 4th: see trigger/level call
Excerpt reply to reader :
Date: Wed, 21 Sep 2011 02:59:36 -0700
"Good to hear from you and good that you've been sidelined!. Looks like last note is playing out“. ….It’s probably best to take August off and get refreshed for what may turn out to be a very meaningful last Q run-up.”....Best to remain sidelined till sometime in October(probably mid Oct) for a possibe run up.....
....think its range bound 1230-1140SP, would like break of 1140 now to hit 1100-1090 for best scenario to have susbstantial last Q run up chance. Looking for lows to be hit.
Need to get through what is usually a 'bad seasonal' time also with or without all this stuff. No reason to get online now, policymakers in US/Europe have readers/ investors too scared to jump in.
Market needs triggers. Europe needs to inject capital into 'banks' for their balance sheets, not add liquidity like last week to stop jitters."