kind of like thinking.
somebody argued this was a "pre expiration bounce." most expiration bounces are a "morning of" phenomena. Not a day before. the other thing that makes me shaky is the WFC moves. That sure starts to smell like it's capitulation.
or that many of "Those names" aren't going much lower... it's hard to think they are leading us further down... besides capitulation. of course as I look at it wfc is at 12.80.Jesus
I mentioned yesterday, we needed some bullishness. Cause so many were convinced we would go down yesterday. and I have heard some "maybe the lows held" talk. usually using the HOPE word.
When I look at this, and apply the Trading with TK "Breakout, Pull back,GO"
to this pattern....I don't have it.. Also.... it needs a better "Aversion phase." in this base build.
so score that for the bears..
I do ask.... how many people are ready to throw new money against the market/ or puke more stock up.
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
Thursday, February 19, 2009
Just doing some typeing
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