Thursday, April 26, 2012
Correction Over
It was fun while it lasted, but they never last long, do they? LOL. We got our 2 week correction, now it is back to grind the shorts mode for the market. I expect sleepy trading for the next month, along with new yearly highs for the ES. I enjoyed the brief bit of action, now its time to go back into hibernation on the stock side and look for other fish to fry.
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10 comments:
Correction over then?
Yes, I am saying this correction is over. We are going to hit new highs in May.
ZNGA beat.
Didn't beat big but still beat.
I think they are going to guide higher and then here comes the Wall street upgrades.
I'm holding this puppy to 13
LIU KANG
what made you change your mind from last post?
We broke out of the top of the trading range on low volume, which tells me there is no overhead supply of stock to sell. Plus we already had 2 weeks to correct, and we haven't been able to break the lows from earlier in the month.
s&p down 7. Oops. "Yes, i am saying..."
This S&P downgrade will just end up trapping more shorts. The market will grind higher.
no volume today what so ever!!
Welcome to the post-correction market. Low volume, low volatility. This should last for a couple of months before we get another bout of volatility.
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