Worries about a Greece downgrade and general weakness in Asia and the bad jobless claims numbers have us gapping down big. I am slightly bullish, but I didn't expect this big a gap down. Its possible that we could selloff for much of the day, but I see it as more likely that we have another day staying within the range. I am not too confident about my long position though.
I do think if we do selloff today, it will be a great buying opportunity, so if I do sell, it will be just to buy at lower prices.
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Inverted head & shoulders are developing nicely in the Nikkei, Hang Seng, & DAX. For the US to have a decent looking inverted H&S, the S&P has to drop to at least 1080.
You seem to be almost always wrong. Are you new to trading?
Haha. Yes, I am almost always wrong. Do the exact opposite of me and you will make money.
Would seriously consider the possibilty of new lows. soon
Hey Anon, it's possible for people to be wrong when they're trading.
well, while marketowl isnt most precise right now, i remember him being more right then wrong in past times.
marketowl, you are still my favourite trading blog.
Anon 09:09 - That was really NOT necessary.
We all have those times when nothing goes right.
Losing money is painful enough, you don't have to add your insults.
Owl, I'm sure the good times will soon come back.
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