Monday, August 30, 2010

Light Volume Selloff

This is bearish.  It doesn't take much volume to take down this paper tiger.  Friday was pure short covering and bounce players jumping in declaring the bottom has come.  Globex trade at 1072 is probably the top for this bounce.  The fundamentals are bad and economy is tanking.  Every long should just be very short term trades until we capitulate below 1000 in September. 

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