Wednesday, March 12, 2008

Bears Wasted No Time: Very Impressive !

I am unable to post charts tonight but I have to say i was very impressed by the way the bears took over control again. Most notable impressive reversal at 20 day MA resistance was on the XLF/SKF. Super volume reversal closing on the low/high tick on great volume. The financials continue to be the 800 pound gorilla on the market's back. A lower high was formed at yet another test of the declining 20 MA. Truly awesome/text book stuff. Gotta love this action if you are a 100% pure neutral trader. I persoanlly wanna see a capitualtion day/week to finish off the most bullish of bulls before i believe that the market has 'priced' in every imaginable piece of bad news. But what i wanna see and what will hapen are two totally different things. I am playing it one day at a time and loving the action. One of the best trading enviorments i have seen in years. Charts in tomorrow's session. good trading!

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