Indicators are saying that the market is trying to bottom on a short-term basis. If we can't rally during the last 1.5 hours, I think we will have a big gap down on Monday, which will do the trick.
Denleo
Short-term
Started by
denleo
, Jul 27 2007 01:34 PM
2 replies to this topic
#2
ogm
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Posted 27 July 2007 - 01:47 PM
Indicators are saying that the market is trying to bottom on a short-term basis. If we can't rally during the last 1.5 hours, I think we will have a big gap down on Monday, which will do the trick.
Denleo
No idea if it will happen today or Monday, but I'm looking at high yield funds and most of them are boncing decently today. Brokers are green too after very heavy volume and turnaround candles yesterday.
And if the Financials have calmed down, this is it for this round. The next round will be corporate profit squeeze, but thats not relevant at the moment. First we'll have a rally.
Here is an example. Bouncing pretty hard today. highest price in last 5 days. Lots of selling was absorbed here.
The panic has passed, back to business of chasing yields.
#3
tommyt
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Posted 27 July 2007 - 01:55 PM
good call denleo, i like that...back to unch.
