A second bite at the cherry

Quote from Cutten:

Just pulled back about 50% of the rally from the opening lows. This is another chance to buy, a stop for this add can be placed at today's lows.
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Problem is with today forming a doji, I'm not sure it's going up on Monday. We could be headed back down for another retest of the lows.

Pretty disappointing day. started out great and retraced to the 62% fib line. :(
 
Quote from cunparis:

Problem is with today forming a doji, I'm not sure it's going up on Monday. We could be headed back down for another retest of the lows.

Pretty disappointing day. started out great and retraced to the 62% fib line. :(
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I would have to agree, partly because yesterday's last hour RUSH into big bap names and today's rally after the opening ( only to fall flat on its face late in the afternoon ) smells of a whole lot of OPTION EXPIRATION unwinding going on.

Next week we get a TON of earnings starting to flow through.... that will be the real "test" to see how the market reacts to the news.

Until then, this last hour really "smells" to me.

:(
 
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