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

"Sell down to your sleeping point"

Friday, March 28, 2008

Price Descovery, and the market as a truck

Nominal thinking... I guess that is a new phrase for me... is that we will get some window dressing.
I've drawn some lines.... as the market was working on a close and was finding No support yesterday. The question I had.... Since One could see this as Wave 5.... Problem is... this is showing Acceleration Especially on the top side, where we are seeing.... Larger lower highs, than lower lows.

When I look at the broad chart of the market, I see that we are doing price discovery... 12500 was too Hot.... and last time we checked 11700 was too cool.... No reason we won't keep looking for a Floor.....

Weird thing is the futures are more volatile than the market right in here +/- 20-30 points every day....

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