Friday, December 10, 2010
Friday Slowdown
This looks to be another sleepy Friday. The bears usually only have about a 2 hour time window to operate on Fridays. If they can't get any momentum to the downside in the first 2 hours, usually it is a flat or up day. You don't often see Friday afternoon reversals to the downside. So odds are the drop will have to wait at least another day.
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4 comments:
whats the word dawg? do i get out of this tza or double down on this bitch. this feels like last march and april when we used to go up a few points every day.
I think we top out on Monday. We probably squeeze a few points higher but from then on watch out for the fall.
Emerging markets typically rise or fall first, and EEM looks like it has a top. My favorite etf EWZ (Brazil) is selling off fiercely.
Since the market today is a rigged game, I find it unlikely we correct until after the holidays. Optimism around a seasonally steady market in Dec goes hand it hand with seasonal retail. The system is pumped up and it's not a coincidence, IMO.
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