Tuesday, March 31, 2009

Big Bear Move at Close....

Stunning close on extreme volume....probably won't find a clear reason, but I have to wonder if it wasn't a major liquidation redemption. Anyway it was one of the more bizarre moves I have seen without a clear explanation readily available. One thing for sure it sets up bad for bulls. Still no visibility here.....good traders on the SKF are gunshy.....so it is just fine to sit tight and watch here.

After I have a chance to cheat around and do my research I will give you my plan tomorrow..but dont hold your breath for any major committments.......right now it looks like any rally tomorrow AM should be faded......but that close may gap us down.....later

4 comments:

  1. Had a chance at hod to unload Russell etf longs for breakeven. Watched as my chance slipped by and wouldn't push the dang button.

    Oh well, already hedged to go the other way - but it will now cost me profits. 1+(-1) = (-1)+1

    Think we head down before week is done.

    noonday_son

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  2. 1 year anniversary of the April Fools Day massacre. I hope history repeats itself.

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  3. lake I had forgotten all about that. I guess because I dont like recalling painful memories. This year should be much different for me.

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  4. May you live in exciting times.....

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