Yeah, the volume isn’t supporting this sell off. It’s only 142 million right now with only 100 minutes to go until the close. I doubt if we will even hit 200 million today.
Don’t worry about that, I’m certainly not going long. I’m just shorting bounces. At this point, I don’t think a new high is coming, but just a bounce tomorrow and possibly Wednesday.
Yes Richie, I’m thinking one more move up and then the real panic starts. Oil, Gold and Silver seem to be ready to take a breather and drop down some. This should give the market boost tomorrow I believe. However, as far as a new high in the market… I don’t know?
Why aren’t people just holding shorts? Why do they keep “expecting new highs”? Makes no sense, all trend indicators were down heading into Friday, most notably the VIX trading above the Bollinger Band midline. A long position should never be held in that circumstance. NEVER.
Utah Pushes To Accept Gold, Silver As Alternative Currency:
http://www.zerohedge.com/article/utah-pushes-accept-gold-silver-alternative-currency
Yeah, the volume isn’t supporting this sell off. It’s only 142 million right now with only 100 minutes to go until the close. I doubt if we will even hit 200 million today.
It sure seems like they telegraphed this one. It could be a trap.
Too many people know about it now… so does that mean it won’t happen?
Saudi `Day of Rage’ Lures $200 Oil Call Options: Chart of the Day:
http://www.bloomberg.com/news/2011-03-07/saudi-arabia-s-day-of-rage-lures-record-bets-on-200-oil-chart-of-day.html
i would like to see that 1294 low taken out before the bounce – that would be on my wish list!!
red – i can still dream can’t i?? lol
Don’t worry about that, I’m certainly not going long. I’m just shorting bounces. At this point, I don’t think a new high is coming, but just a bounce tomorrow and possibly Wednesday.
Yes Richie, I’m thinking one more move up and then the real panic starts. Oil, Gold and Silver seem to be ready to take a breather and drop down some. This should give the market boost tomorrow I believe. However, as far as a new high in the market… I don’t know?
Why aren’t people just holding shorts? Why do they keep “expecting new highs”? Makes no sense, all trend indicators were down heading into Friday, most notably the VIX trading above the Bollinger Band midline. A long position should never be held in that circumstance. NEVER.
i agree with that characterization red,
i have yet to see anything really impulsive since the 1344.07 top. selloffs have a controlled look to them…..