Thursday, October 1, 2009
LOWER HIGHS UPDATES
These markets are starting to top out here. That lower highs i talked about 2 days ago is starting to pan out. We will need to see how they decide to close out them out today and more importantly friday. As of now, I am siding with a bearish scenario for stocks for now. The selling we have been seeing recently has had a more intense 'feel' to it. Signs of distribution surely. For now, i am going to respect the bears and will give them the benefit of the doubt here. Imho, the pressure will be on the bulls going forward to stand their ground and if they do, i can just easily go LONG but for now, i will focus on shorts.
Posted by Stewie at 7:10 AM
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