NYSE Chief: It is time to short the market...
- Thread starter Port1385
- Start date
Quote from GCSICLRBC:
Port,
Thanks for sharing a very good article.
The low volume on this rally belies its apparent strength. Today we were looking at 870 area to sell but it looks like it won't hit.
GL today!
--Harold
Sold 'em. 870.75
We may have just seen the HIGH for the month of April.
Harold over -N- Out!
You have to think about why the Nyse cheif would come out with a comment like this. What are his motives? It sounds to me like he's short, or some of his whale friends are stuck short and need a sell off to unwind their losing positions. I think this market has caught a lot of shorts off guard and is going to continue the squeeze until they capitulate and get long. Watch out, we could have a melt-up just like we had a melt-down in september/october. The market was oversold, but kept going down. Just like now, the market is overbought, but keeps climbing.
Why would low volume belie 'stength?'
It would seem to me that the very low volume of late belies a lack of conviction, if anything, and provides an opportunity for hedge funds and very active managers to manipulate direction more than they could in heavy volume environments.
It would seem to me that the very low volume of late belies a lack of conviction, if anything, and provides an opportunity for hedge funds and very active managers to manipulate direction more than they could in heavy volume environments.
not like I totally disagree
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=10&dy=0&i=p01520527237&a=162672996&r=44
but, for the balance, a view from Oscar Carboni:
http://livewithoscar.com/images/charts/VIDEO 041709 SPY ~ Weekly_04162009_101935pm.png
