Thursday, January 28, 2010
Very Bearish Action
What I am seeing extremely bearish on the screens. I expected at least a bit of a pop after we got Obama out of the way but its not happening. It seems like yesterday's rally gave everyone a sigh of relief, and this market is on shaky footing. Bernanke's reappointment vote is coming up at 10:30 AM, I don't think it makes a difference. Everyone knows he's getting reappointed. In fact, it could be another sell on the news item. I am short now.
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5 comments:
You've been very spot lately.
This is your kind of market man.
Shit, for me I just have to weather this storm.
How low do you think we can go and do you think this support will hold.
1085 on SPX.
I got killed buying dips last week and decided to change my strategy for this week, because I think its a changed market.
This market wants to break 1080. I think we can get down to mid 1060's.
mkt is getting fucking crushed down almost 2% today. Where are all the people saying the mkt is oversold.
This is setting up for a nice rally(bounce) next week.
There is not much support until we get down to the 1060's. There wasn't much volume traded in the 70s last year.
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