Two days of the SPY. and then some.
ok.... let us pretend I work at a hedge fund, or some other financial firm. but I'm looking to buy stock. Obviously I want to buy it at the best time. After Tuesdays late weakness, I realize that we are getting some late day weakness. And that my desire to buy in the morning has been a mistake. So yesterday I wanted to wait until later in the day. and held back on my purchases to buy later into the weakness.
After yesterday's massive weakness. I then realize I defiantly don't want to buy in the morning..
My point is that as the mice move from buying early to later, the weakness should progress to earlier in the day. and we should see more strength later in the day..
which is why Morning weakness does not surprise me.... but what will surprise them is the lack of weakness later in the day..
Oh... thank god for Congress... I'd be tragically bored if not for some hearings. Especially when we seem to want to have AIG day 2 today.
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, March 26, 2009
So... here we are
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