Because what's "SUPPOSED" to GO LOWER must GO LOWER!.. Or, it MUST go Higher!...Money doesn't stop it moves instantly.
We are on the same road I think. I say, "Price will continue in one direction until an oscillation failure is present . . . then price reverses . . . price will then continue in that direction until an oscillation failure is present . . . then prices reverses . . . forever and ever and ever." The stronger the oscillation failure the stronger the reversal in price.
<object width="425" height="350"><param name="movie" value="http://www.youtube.com/v/xE4hcOkvm_I"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/xE4hcOkvm_I" type="application/x-shockwave-flash" wmode="transparent" width="425" height="350"></embed></object> That's what most sensible mortals are seeing, whether Thorn is right or wrong time will tell
The scary thing is that all these top callers that come out on a -1% day aren't even being sarcastic!!!!!!! They mean it!!!
I've screened the junk-bond funds on yahoo. I go through this every month. Junk bonds move south/north way before stocks do(at least historically). These are all 4 or 5 star rated funds by Morningstar. I am not looking at the yield but the momentum and trend. Liquidity is the major thing that moves junk-bonds. Here is a link. http://screen.yahoo.com/a?cc=HY&proy=0/10&b=1&z=trfy&db=funds&vw=6
I scalped some YM from the long side against my ES shorts this morning (actually it was a nice "lucky" trade as I got out @72 for no particular reason). Thorn this is reminding me of that pre-Katrina jerk-off trade between 1245 and 1227ish back in Aug/05. The highs held but it was painfull selling lows as the snapbacks and re-tests were fast. Jeez is that Nazdick ever weak again......
doublea, what would get you to say that the momentum and trend has turned? And if you feel more comfortable telling me via PM, I totally understand! and many thanks again, i'm just trying to learn.