Wednesday, March 17, 2010
Fund Capitulation
Trading at 1:30 PM today looks like a fund that capitulated on their short position and shot the market higher by 3 points on gigantic volume. Very atypical for that time of day. The selling in past hour and 1/2 has muddied the picture. I was looking for a blowoff top tomorrow morning, but with this little selloff, the probabilities are not as favorable for a morning short tomorrow. I still think we need a blowoff top to end this run.
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1 comment:
Dont mock me for putting it here--just fyi--financial astrology--
But in the study of Financial Astrology, we look at these clusters as probable market reversals. The conjunction of Sun and Uranus on March 17 is especially potent in many financial markets. According to the studies published in “The Ultimate Book on Stock Market Timing, Volume 3: Geocosmic Correlations to trading Cycles,” this is a Level One (strongest) signature with an 83% correlation to primary or greater cycles within 14 trading days. Since we are rising into it, one might anticipate a primary cycle crest. On the political front, this time band (March 17-25) could be a rough period for many leaders – especially Leos.
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