That there was a good place to make a 30 cent profit.
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
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Boy, I don't know. This looks like a break thru support. What would capitulation from the countertrend rally look like?
Financials look toxic to me. HCBK is one of the strongest charts in the regionals and it looks sick. Are we headed back to the bear trend?
this probably cements that we won't make a new high in the rally..
Asuming it still happens.
Just about everything looks like it hit a "near term low" Just after 10 Eastern.... and most of them are Accelerating to the upside.
All the finincials and XLF I picked up yesterday... are in the Green....
Easily this could show up as a "Bear Trap"...
There are a ton of Bears who went short this morning who are in real Pain.... Daytraders Play the trend. and will play up till it doesnt' work anymore....
with the short covering. I know it's crazy... but up up up...
Where do you find the short volume? or are you surmising this from the trend, ie, the sell-off near the close yesterday (the mini-drop at 3:30pm)?
I've never found short volume to be easy to find, and it's only published once a week.... As I've found. I could be wrong.
It's a suposition, There are too many people who trade "news" and then said ... I'm going to go Short. and just short the index at the open. instead of watching the trends.
I saw many stocks I wach that the "Bid" This morning was Rediculous, "Bid's near 52 Week lows"... It was Bulls setting a Trap for a Bear to come in and Sell stock at the low level... Then the stock goes up, and the Bear Can't find a somone to buy stock from, unless they pay much more.... All of that happened in about 50 trades in the first 3 minutes. Then suddenly the stock is 5% higher, and the bears are scrambling...
I know cause I've fallen for it. The first 15 minutes of trading any day are Crazy.... especialy with all the market orders coming in from Brokers, from silly clients.
they could be right in a long enough time frame.
The safe thing is to see if we can re-establish a trend... This has scared the crap out of the market. and some of the bulls may pull in their hornes.... We shall see.
As I've been working on this... the market has taken a bit of a turn lower.....
We will see...
a good capitulation will be the market Flat pulling a flat line for 3 days.... +/- 20 pts on the Dow
http://shortsqueeze.com/
overall... I could just be talking my book....
I'm trying to figure that one out myself...
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