Lots of short sellers at 13,000 level.

eom

 

Then that should easily get the dow to 13500 this week.

 

Noticed this too, around DOW 13,000 NQ was about 2599.50 where 900+ contracts were sitting and those people did really well today I'm sure.

CNBC is creating hysteria over a pattently insignificant value on the DOW like 13,000, sending it higher for no reason, and they are also doing this by saying "Can the NASDAQ hit 3,000?"

It's typically the sign of a top, and price action should have one more period of weakness if it goes lower then higher and depends on whether that move higher will be a lower high or another continuation of a breaching higher high.

 

Won't happen.

 

So...if it goes down it's going to go down, and if it goes up it's going to go up. Sounds good. I have my ATF (after the fact) orders placed at Ameritrade. Thanks.

 

Be careful, broker bwolinsky will stalk you.

 

Numbers and source please.

 

I'm not a broker. I'm an investment advisor and commodity trading advisor that makes absolutely zero money on commissions.

 

How do you/we know they're selling short and not just liquidating long positions?

 

I hear ya. I just read some of his other posts where he spoke about having 8 figure accounts.....having to worry about position limits in Nasdaq futures...etc. But trading 50k is a bit far away from those issues....I guess he is preparing