If you're short, I'm the sucker going long....: well seems like wave B

Tuesday, June 30, 2009

well seems like wave B

I'm doing EWT for Tony cause he.... is looking at it now.... but sort of a flag there, and we are still hanging onto the trade channel.

4 comments:

Tony said...: So I have that today was wave A from the motive that started last Tues. Wave B should be no higher than todays open.

Also, looking at sentiment: cash levels are low... hehe

http://tinyurl.com/nlp6nc; June 30, 2009 at 2:16 PM
Eric said...: I'm talking about a wave 'A' That started this morning ended at 11:37

Then Maybe wave 'b' ended at 12:30

but we have been drifting... I'm not sure ... I think there is hope of end of day buying...

who knows if it will happen...

but they could just sell into it.. if it does come... Remember there are 10000 Pete Nigerians out there prepped to "Sell Into the July Markup"....

only they seem a little late.... isn't that the way it always is?; June 30, 2009 at 2:25 PM
Tony said...: yeah that's the same wave I see. thanks.

It seems that if the "window dressing" meme is the reason for the 4 day rally las week and Monday, then they would want those positions "on the books" at the close.

The whole thing is silly to me, but looking at charts last night, the end of quarter does seem to follow a pattern: strong stocks do well the last few days. Weird.

I ask myself, who is buying now? And I cannot think of an answer.; June 30, 2009 at 2:34 PM
Eric said...: but it's traders marking them up, but they are already up so far...

it's hard to think they have much reason to try and mark them up .5% or whatever...

and there are "All These Traders" who were waiting for the Quarter end Rally; June 30, 2009 at 2:38 PM

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