Short term bottom today

Discussion in 'Trading' started by jrs3, May 10, 2004.

  1. jrs3

    jrs3

    Thats my guess is today we see a short term bottom, Time to get long nope! just cover shorts.
     
  2. I think you may be right. Friday produced breadth numbers that have marked important lows over the past couple of years. It's important to remember, as Jeff Cooper pointed out this morning, that if you're off by even one day you can take a lot of pain.
     
  3. Brandonf

    Brandonf ET Sponsor

    Something that I find interesting is that this is the first "big" down day we have had on light volume in some time. Maybe the sellers are finally wearing out?
     
  4. agrau

    agrau

    could you re-formulate "...sellers are finally wearing out", please - I am not native english/american and can't find the expression in my dictionary.

    TIA,
    agrau
     
  5. He means they are tired from selling, "pant pant, huff huff, whew", (Brow Wipe)

    Best not to jump the gun, or count your chickens before they hatch.
     
  6. agrau

    agrau

    Thanks for the picture :p and the explanation! Much appreciated!
     
  7. jrs3

    jrs3

    Their walking it up during lunch, so whats new. What happens in the last 30 minutes will be key, if the markets close green, short term bottom is in. ( I mean short term).
     
  8. jrs3

    jrs3

    Short term bottom, not today! 25 minutes left don't see it happening, unless Bin Laden is caught. You no It wont surprise me if that rumor starts circulating anyday now.
     
  9. Markets close green? What markets are you looking at? :D
     
  10. ig0r

    ig0r

    markets will gap up tomorrow, we'd need a sustained up day on volume for a decent bottom to come in; otherwise look for more down room
     
    #10     May 10, 2004