I agree, it still seems like the hedge fund managers that need to liquidate are still in control of this market. I think they eased off on their selling for a couple of days to build a little bit of strength for them to sell into. It is hard to believe that they were selling nonstop for a couple of weeks and all of a sudden they're done selling. When everybody's done calling bottoms, then we can have a bottom.
we're in consolidation, forming a symmetrical triangle. Pay close attention to money flow and accumulation/distribution in individual sectors. That will give clues to where the funds are prowling.
Of what are you referring?
ReplyDeleteMore bloody tankange in the coming week perhaps?
todd: blood tankage is a great way to put. right as everyone on cnbc is buzzing about a bottom. ruthless selling is more likely.
ReplyDeleteYou know what Stewie? I totally agree with you. As bullish as I was for a bounce last weekend, I'm very indifferent going into the this week.
ReplyDeleteI will buy a decline especially should we drop below the lows, but I won't chase up or short per say besides quick scalps.
Something doesn't feel right.
In my opinion we double bottomed (if you can call it that, I don't think I can) too fast for that to be the case.
I feel like we will test the lows or even break them by a bit.
I agree, it still seems like the hedge fund managers that need to liquidate are still in control of this market. I think they eased off on their selling for a couple of days to build a little bit of strength for them to sell into. It is hard to believe that they were selling nonstop for a couple of weeks and all of a sudden they're done selling. When everybody's done calling bottoms, then we can have a bottom.
ReplyDeleteThe hedge funds will be on the prowl.
ReplyDeleteStay behind the sharks and you won't get eaten.
we're in consolidation, forming a symmetrical triangle. Pay close attention to money flow and accumulation/distribution in individual sectors. That will give clues to where the funds are prowling.
ReplyDelete