Thursday, October 28, 2010

Dips are Fleeting

You can tell the strength of the market by the amount of time it gives you to buy dips.  This market just doesn't stay down for long before bouncing back towards the highs.  Yesterday was a classic example of this.  So was last week.  A strong market gets up right away after pulling back.  This is what this market is doing.  That makes me hesistate to short except for absolutely perfect highly overbought situations. 

Not much read into today, the action feels random but with a strong bid underneath. 

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