Today's initial rally and failure to continue just made the intraday chart more bearish. There is more bearishness but traders are still thinking that a bounce is just right around the corner. Perhaps that is why there is no give up and a flush lower, the buyers are just hanging on, hoping for a bounce.
I think a bounce will come, but from lower levels. I am staying short here, and expect the next couple of hours to be weaker.
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Reducing a part of my short here, still short a lot.
I found this great picture of you.
http://upload.wikimedia.org/wikipedia/commons/c/ce/Male_kodiak_bear_face.JPG
http://upload.wikimedia.org/wikipedia/commons/c/ce/Male_kodiak_bear_face.JPG
Throwing up the white flag
sold EDC @ 104
old dawg
I have covered all my shorts.
nice trade you nailed this one.
Are you gonna buy any dips here or are you gonna short rallies.
I guess if the next couples moves are down you'll get long and if they are up, you'll short.
I think I will get back in EDC around 95.
I am looking long here, below 1070
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