I don't know what to tell anyone...... That is a decending triangle
I don't discount the low volume trading as invalid.... I just think it's exaggerated.....
What does brian say "if it doesn't scare you out it will Wear you out."......
If you look at most sentiment, Everyone.... we are being beaten to a pulp, Constatant Whipsaws. and It's Every one.
What if what happens is this Volitility just goes tighter and tighter for a few weeks.?.... And we have that good old fashioned "Bull and Bear" Capitulation..... That will signal the End of this Bear?....... That is what this feels like..... Like we are just shaking the volitility out of the market.
Of course this all could be local noise.....
This is toppy action Near term.... but it won't surprise me if we go back down and retest, and it goes nowhere.
I havn't done a damn thing but nibble on some financials. And I wish I had stuck with them all along......... Just traded them, and not messed with being short.....
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
Wednesday, August 27, 2008
Isn't this just a horror show.
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2 comments:
I'm now watching oil live
http://www.post1.net/lowem/page/livequotes
It's amazing with every tiny tick up on the oil, SPY sells off a few cents
And looking at moneyflow again, big money leaving SPY today.
Vix is down nearly 4%.
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