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.
Tuesday, March 9, 2010
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2 comments:
"dash for trash" -thats awesome
We have a double top on SPY, guys.
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