Wednesday, March 11, 2009

I Am NOT Impressed By Today's Candles

The bulls need to come up with something good and fast because today's candles did nothing good. Black candles, dojis, reversal sticks all over the place. We need to at least expect a weak start to tmrw session. It's amazing to me how bullish many people get once we see a short squeeze after a sustained downtrend. The obvious reaction is "the bottom is in" or "this is the start of a 50% bear mrkt rally". As long as many people are expecting is will not happen, imo. I mean, how many people do you know who bought at higher levels and so eager to sell their inventory to you?? Sellers are still the 800lb gorilla in this mrkt imo. I expect at least a weak open, who knows what the close will look like.

good luck.

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