Wednesday, June 15, 2011
Don't Ask Don't Tell Gaps
Once again, we are getting a big gap, this time down, on no news. Don't tell me the CPI and Empire Manufacturing numbers are the reason, we were way down before those numbers came out. This is a weak market but a market that is underinvested. So you get short squeezes but no follow through. It looks like another weak day and the downtrend continues. Yesterday is looking like a repeat of last Thursday, a less than one day wonder, with a late fade in the day.
Subscribe to:
Post Comments (Atom)
Posts
1 comment:
Just because there are gains and it's coming from oversold conditions doesn't mean it's a short squeeze. There are barely any shorts left in the market so any squeezes are mostly caused by people getting back in.
Post a Comment