... I don't usually put much stock in holiday trading, But.... It was what it was.
Honestly today was a significant change from past days short covering rallies.
Umnnnn..... If you notice the blog title, I acknowledge my willingness to buy tops and sell bottoms... Like every red blooded American.
At 1420 I wanted to short, and at 1440 I wanted to go long, this indicates that we are trading neutral.
I'm confused, and see mixed signals, Bullish R2K, Bearish nasdaq, almost neutral Dow. Oil up Dow up, which tells me that things aren't back to normal, I saw no panic.... and I'm not sure if you can count that as capitulation.
lower lows, higher highs.
Caution....
this also could be enough trading to get the people involved enough to make our next leg down....
What I'm saying, is I have no call. This is what I called for 12800 then a short bullish trend, till employment. Maybe distribution for a few days. maybe monday rally, into a falling knife.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Friday, November 23, 2007
Muddled
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