Tuesday, May 25, 2010
Too Calm
I've never seen a lasting bottom occur when things were so calm despite continued weakness. On Fast Money Halftime Report, I didn't see much fear, traders were looking for bargains and happy that 1040 held. Maybe we can go up a bit from here. But if we go up from here, I think it will be another rally that is sold, probably around 1070. 1015-1020 needs to be tested before we get a sustained bounce. If we fail at 1015, then 980 is in the cards.
Subscribe to:
Post Comments (Atom)
2 comments:
Well, we're are firming.
Is the market doing what it did in February?
This decline is much deeper and seems like it will last longer.
Post a Comment