The day tends to come in 3 forms, a morning leg, an afternoon leg, which are significant. then some kind of lunch correction.
That the market rallied through 11:30. That is a 3 hour move. that is sometimes proportional to the afternoon leg. Which would suggest that the correction will be 1-2 hours... specifically 1.5 hours.
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the way the market is moving feels like "the bottom is in" trade, and we need to get some nice euphoria, which should also be a "Shorts are in Hell" phase, as they have been waiting for a correction to get out.
What is the short ratio for the market now?
ReplyDeleteIs it historically high or low?
that is monthly data, actually it seems like it's relatively low
ReplyDeleteOctober 31, 2008
722,568,248
October 15, 2008
1,141,341,041
September 30, 2008
1,182,959,576
September 15, 2008
1,375,834,183
I'm glad you are making money, sad to see you walking, it seems like there is still some money out there, we could get a very nice rally.
ReplyDeleteYeah, it was a good day... even a blind squirrel... yada yada yada.
ReplyDeleteMy in-laws are coming for Thxgiving and I have some stuff to do.
I'm still holding HCBK, MCD, JNJ and ARK long.
Good luck and have a good Turkey Day!
ReplyDeleteI'm glad to see you make some money... Not that easy you had to reverse your thesis, that is the trick... Realizing when you are wrong and then acting on it.
ReplyDeletehave a good thanksgiving.
ReplyDelete