Friday, June 10, 2011
Very Weak
The price is still not low enough to bring in eager buyers. We just get fleeting short squeezes with no underlying demand for stock. It feels like there won't be a V bottom this time. We're going to have to trade at these lower levels for a while to wring out all the weak hands. The lack of volume means the bottom will take longer.
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5 comments:
Next week will be interesting to say the least. While it's my opinion that we will bounce, at some point,how strong and high is to be determined.
We need some really good news to help boost us up. I just don't see it anytime soon. While I agree the debt ceiling WILL be raised, it won't happen until late July or Early August. It is going to be a psychological hit. Knowing that QE2 is ending this month. Everyone will be waiting to see the first economic reports in July to see where we stand.
I believe next Friday is quad-witching!
I also put emphasis on charts to aid my direction. I think we at least test the March lows.
So, maybe a bounce of a couple of days then right back down + some.
Earnings will save us in mid to late July. I don't think they will be as bad as I've been hearing some recent forecast.
wouldn't be surprised with an all out crash monday
they tend happen in dripping markets when everyone's looking for a bounce and everyone's looking for a bounce
Crashes are rare events and usually you need a financial panic to see it happen. I don't see one on the horizon with all this easy money.
there wasn't a financial panic in may 2010
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