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| Opening Bell - Time to get screwed |
So after a weekend of angst over Ukraine and Crimea, the stock market took a fairly significant hit on Monday. It dropped about 150 odd points. This morning, prior to opening, the futures look like all of it will be recovered and then some. Here is the chart:
You might note that about noon (12p) yesterday, the market hit bottom and by 3p had a mild recovery. Then, just after midnight it jumped 100 points and then about 6am another 60. These are traders doing their thing...borrowing stock to be replaced later.
The issue is that there was no "new news" to make the Ukraine/Crimea situation go away; the best is yet to come. This is all about hedge fund operators positioning the market for the opening when the average Joe wakes up and looks and decides that now is the time to buy in. Hedge funds always need a sucker to buy in at top price.
You watch.
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