Late Day Bounce?

Discussion in 'Trading' started by gnome, Oct 10, 2008.

  1. Before the close (maybe last 30 minutes), market likely to have a nice bounce. ??

    Shorts covering... don't want to take the risk of an "announcement" over the weekend which sparks a rally. ??
  2. Who knows. But beyond that, there is little to suggest that this turkey will fly any time soon.
  3. Best to be short or out on the sidelines... No bounce expected just steep nose dives through close.
  4. axehawk


    Everyone will be watching to see what happens between 3 and 3:30 today.
  5. Agree... Profit potential has allure, but picking bottoms in a bear market is high hazard work.
  6. I'm keeping an eye on support at 8000....

    If we retest and bounce I'll then be looking for a 3rd test.
  7. If the market goes out on LOD on this Friday, really says something about sentiment...
  8. Daal


    with vix at 75 I rather just watch this. im going to try to play hero
  9. Look at that bounce off 8000!
  10. Normally this might work, but are there any people short here? Most people stopped shorting due to the SEC ban, fund withdrawals, or just because the market was so oversold higher up that they covered, and the few that stayed short have probably got whipsawed out.

    IMO just as likely is a last hour bloodbath as margin selling and redemptions result in people selling at any price.

    It's a coin flip either way.
    #10     Oct 10, 2008