Monday, November 15, 2010

Fading into the Close

We've had strong finishes for the past 3 trading days, we are due for a weak finish and today is a good setup for it.  Traders continue to be oblivious to potential downside as shown by the low put call ratios and the dip buying phenomena and the quickness with which bears take profits.  I predict more downside this week and expect at least a trip down to 1175.

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