Actually this minor bounce from yesterdays bloodbath is not good at all. Really...we were down 415 yesterday and today we are up 75....not much of a bounce. The time to buy will when we have another washout....most likely within the next 2 weeks. A lot of fund managers are gonna use any more of a bounce to unload into. Try the short side my friend.
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Final Hour Approaching...
- Thread starter CalScholar
- Start date
Quote from stock_trad3r:
Where is the big EOD selloff all the bears were predicting today? Hmmmm?
looks like the markets found very good support after rebounding off the the low of 2395 today
time 2 buy
If you were in a theater engulfed in flames, would you yell, "Don't worry! There's a water fountain in the lobby!"
I get the feeling that you would.
Quote from Anunakki:
Incredibly boring market today.. Im really bearish and even I was suprised at the lack of bottom fishing going on..
Seems to me a bearish indicator. Perhaps we'll see another modest move to the upside tomorrow, followed by a major sell-off on Friday. Who knows, though.
Still, lots of scalping opportunities today for shorts. I took 0.35 off NDAQ and 0.17 off TRAD. My longer-term short in SNDK remains strong. Now I need to be careful for the next couple days, so as not to be labeled a PDT by Scottrade.
El Prade, you nailed it. Lots of trapped longs feeling like rats in a cage. They will use any bounce to exit. If they were to approach a lower low they will panic. This is not over yet, not by a longshot.Quote from EPrado:
Actually this minor bounce from yesterdays bloodbath is not good at all. Really...we were down 415 yesterday and today we are up 75....not much of a bounce. The time to buy will when we have another washout....most likely within the next 2 weeks. A lot of fund managers are gonna use any more of a bounce to unload into. Try the short side my friend.