It's getting tougher for them. In days gone by they'd have rocketed us off the morning lows and we'd be Up 100 points by now. At this point it's much harder for them to pull off.
I am convinced the direction is down, so I don't want to get long.. yet I don't want to get more short because I think they might bounce us for a day or two.
Sometimes the best play is no play and that's what I'm doing.
Except for the open, we have an UPDAY in store for tomorrow.
Jay,
ReplyDeleteGap up open or flat open?
S&P 500 analysis after closing bell
ReplyDeletehttp://niftychartsandpatterns.blogspot.com/2010/08/s-500-analysis-after-closing-bell_26.html
It's getting tougher for them. In days gone by they'd have rocketed us off the morning lows and we'd be Up 100 points by now. At this point it's much harder for them to pull off.
ReplyDeleteI am convinced the direction is down, so I don't want to get long.. yet I don't want to get more short because I think they might bounce us for a day or two.
Sometimes the best play is no play and that's what I'm doing.
i've warned you there was no reason to be bearish... hope you are not trapped with your shorts under water
ReplyDeleteI really enjoy to visit your post.I feel happy thank u for your nice post.
ReplyDeleterupees
Have a look at the chart
ReplyDeletehttp://screencast.com/t/M2Y4N2Y5OT
As you may see there 2 scenarios and both are very-very possible.