This morning I hear things like "The G20 is not going to save us". I've been wondering who told anyone that it would. But it does sound like it would be a desire by traders to sell the G20.
Wednesday, April 1, 2009
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Market short term is oversold, selling the G20 news, Trin >1.2, RSI oversold...
If the bias is bullish on technicals and fundies, then I guess sometimes you just have to hold your nose and hit the buy button.
You want some madness listing to c-span in the mornings... It's like Night of the living dead.
Look for the 11am turn.
Maybe even the Bear trap as T-lo suggested below the monday low.
we could close on the low.. I kind of doubt it.
Something I didn't see about yesterday was it was a nice bear flag... so.. usually you get a nice flag then a last leg down, and the reversal.
An interesting thought for the next month or so... maybe that we need to get used to buying when we close on the low.
Especially when the indicators are showing oversold.
MS was the buy on the open!!
seems the writing is on the wall about how we are going higher.
brian shannon had an april fools joke about a mistaken trade...
but it's very awkward.
"No, not for the stock... I was talking short all day on twitter yesterday and at the end of the day I thought I was still holding short but realized this morning that I not only covered the short position, but I accidentally went long 20,000 shares, that is not a typo LONG 20,000 SHARES!! This is not good..."
I like his videos and he's a bit geeky in a good way. As such, his jokes aren't that funny.
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