Thursday, November 19, 2009

Missed It

The market is throwing curveballs, the gap down and selloff was not typical action following the past 2 days of low volume trading.  I totally missed this down move.  The volume has come out like gangbusters.  Is it possible to get rid of the overbought reading by going sideways for 2 days followed by 1 whack?  I would not count that out.  I don't see a good risk reward to chasing the market here on the short side.  If I had to choose, I would rather go long than short.   But today, we'll probably trend down a bit more before having a little short covering at the close.  

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