haha.... shorting opp?!? I doubt it. I'm actually just waiting to get stopped out of my shorts. Low volume consistent moves that go against the fundamentals are the worst markets to fade. Shorts keep getting burnt knowing that the action makes no sense and the big boys smile and collect money.
Very normal for a market to rally on weaker volume than seen during selloffs. Don't fall in love with notion that weak volume means rally will fail. Could rally for days or weeks on weak volume, and given the huge bearish sentiment backdrop it might.
Everytime I see the market like this I call it Forest Gump mode. I just picture the market not understanding whats going on but trucking along with a smile none the less... Run forest Run... Run Forest.... Needless to say I got stopped as expected. Now watch Forest fall off the shrimp boat!!
Just for fun I'm taking another shot here. I actually feel like I'm just giving money away waiting for that fabled reversal that never comes. I got 57 minutes of pain left and I cover at the close. God this reminds me of how I used to trade. Glad this is now a rare occurrence rather then the standard. I was right to short this morning but it became painfully obvious that the market reversed and I just didn't want to accept to look at the long side. Every time the market retraced a bit and I wanted to start scaling out it flew away from me and got me more bitter. That is always a good sign that the market ain't gonna go my way. Sadly I only think news in the last hour will help me out. Pathetic.
Im not really bullish yet, but I'm certainly not bearish at this point either. Right now the market is pretty much acting how it should after two decent up days on decent volume.
Right now the bears are just stepping aside and letting the bulls get their courage going. It feels like Braveheart when the calvary is charging. Hold...... Hold...... Hold..... NOW!!!!! Then the sell programs go into relentless mode. Probably not today though. End of day reversals are rare with no news.