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

"Sell down to your sleeping point"

Monday, August 3, 2009

more on volume

not seeing high sell volume relative to buy volume.... so ...


Bull Bias.

2 comments:

Tony said...

A couple questions to pick your brain, if I may:

1. Isn't this still largely (not entirely, of course) a weak dollar story? UUP target 22.50-ish on EW?

2. What is the significance of VXX bouncing off lows even in the midst of a nice SPY rally? Just a dead cat bounce or is this a canary in the coal mine (mixing animal metaphors!).

Eric said...

as I disputed the "weak dollar" in the move 2 weeks ago.

this is a weak dollar move.

hard to target the uup in EWT, when I don't believe in EWT...

this move isn't even acting as a break out.

Besides your VXX correlation deviation... there are about 4 others.

I'll look at UUP....

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