Tuesday and Wednesday recap

Cumulative ticks finished up at +80,000 and +50,000 respectively on both Tuesday and Wednesday. We  had the pre FOMC bias up till 2pm and then we sold off after there was no QE3 mentioned by Bernanke. Nothing like buying the rumour and selling the fact as always on FOMC day. This morning we have had weak unemployment claim numbers and are see monster gap downs below yesterday and the day before. Not a pretty situation and it could get ugly as these types of days usually turn into gap and crap (ie go with the gap trend days). I wonder if Goldman knew this was going to happen (they had a big sell order in the pit yesterday at the 1291 level - sold well over 1000 cars (just poking fun here)). Anyway they took away my blogging rights at work so expect later posts than normal.