If we actually close down or flat today...

Discussion in 'Trading' started by ByLoSellHi, Jul 14, 2008.

  1. ...on two or all three of the major indexes, hold on to your hats, peeps.

    I expected a MONSTER short covering rallying today, but if people actually sell whole-heartedly on this initial move up, as they appear to be starting to do, look the hell out below.
  2. Yup. Agreed, but think it rallies harder on short covering of recently initiated shorts b4 it gets ugly. Really expected more of a blip up on the open.
  3. It was an almost perfect gap fill play.
  4. And the fib retrace was almost exact
  5. if we close flat or even mildly up it just really shows how weak this market is. i read somewhere last night that the bailout of fannie and freddie will be viewed negatively once the smoke clears.