Tuesday, March 9, 2010

C and AIG

There is a rush of positive commentary and news coming out of C and AIG.  The speculation is also boosting FNM and FRE.  The volume is very heavy for those issues.  It looks like a dash for trash as investors get comfortable with this market. 
Today we have finally gotten more significant volume that we've been missing.  I don't think that's a good sign because of the intraday action today.  It looks like there is a big roadblock at 1145 around the 2010 highs. 
The equity put/call ratios are extremely low today.  The intraday reversal off the highs seems to be signaling a tired market.  I am looking for lower prices into the close.

2 comments:

Random Thoughts said...

"dash for trash" -thats awesome

Petsamo said...

We have a double top on SPY, guys.