Let's not get dazzled by rabid short covering during the middle of the day in front of a 3 day weekend. I always think intraday reversals are overrated. They are much more often false signals than real signs of a bottom or top. If I told you right after yesterday's close that we would be trading on Friday between a range of 1060 to 1075, would you have considered that bullish? I think most people would not.
The intraday volatility that we are having at these levels is telling me that bulls are having a hard time putting together a string of strong up days. I stay with my call for us to visit 1040 before 1080.
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5 comments:
Sold GY @ 3.91
OL DAWG
i maybe that was a bad sale. I have the feeling this is going to 4+ by the end of today. but it hit my 10%+ target. so I had to
Sold 1/2 of JTX @ 2.35
Keeping the other 1/2 till 2.50
(knock on wood)
Ol DAWG
Sold a little more JTX @ 2.41
NOw I have to let the remainder ride till more than 2.50 lets see
ol dawg
Too many suckers shorting the hole.
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