higher lows, what a bitch...
I hate to say it, but I'm stumped.
Just vacillating between a mid jan retest, and a move to a higher high.
I would say that my bias is down.
and yet like all the other lemmings, I feel a compulsion for a "year end effect", the idea that some cash will come into play in the new tax year...
Then just dismissing today's move as day traders ... and fear of this Israel conflict.
Tuesday, December 30, 2008
Goodness
Subscribe to:
Post Comments (Atom)
6 comments:
It's a big bear pennant, dude.
I guess the failure to break above resistance can be blamed on the low holiday volumes, but price matters.
This looks sick. Even the beloved IWM is failing.
The next three trading days will give an indication, but if the market doesn't give better technical improvement, I'm not sure I want to be long going into Monday when all the adults come back.
Very nice morning. Constructive, no fear. This seems more than short selling.
A close above SPY 88 would help to correct the downtrend, but volumes are VERY low.
How do volumes affect your decisions? Brian Shannon always says "only price matters." Your thoughts?
I feel like if I say it it will doom it. but feels like up through Jan 2-3.
overall seems like things have come to life.
Even with low volume? That's my hesitation to celebrating the higher highs and higher lows.
What makes me think we will get a "Year end effect" January effect christmas rally(defied as a rally after christmasy)
is that there will and have been people taking losses for tax reasons this year, and for those that "Cashed out" this year, who were numerous. they probably will be willing to put new money to work into the new year....
As an overall move... I say a move up jan 2-5, then we come back down into earnings (mid to late Jan), Then I say it's all clear through May.
But wouldnt' be the first of my forcasts to not work, or to be refized on the fly.
Most the sell off has been on low volume... hard to discount the up move without discounting the down-move.
Also how it's trying to shake everybody out makes me want to puke...
all I'm saying is rally through Monday morning or so...
but like the market has been trading, just like that trap to open the minute we have hope...
Post a Comment