I see no real conviction in buying...I see a gapped open and meandering buying and prices being shuffled a lot. Yawn.
I would fade it if I had the money, as I was short going into today. So otherwise, I'm not covering my short positions. dow can't even get above 12200..
Agreed. This is a limp market and even good news isn't going to push the market far in my opinion...everyone is too weary and buying is from guys with too much money. We'll see lower prices before higher and the most volume we're going to see for a while is on the way down in my opinion.
Yeah, if it fills the gap it should happen in the next hour or so. I need a better gauge of pre-market volume in order to assess these gap plays, but with so much intermediate/long term downwards momentum... pretty much any short trade is justified
Wouldnt be buying here. The gap up was just too strong. Markets up because of Asia markets. Thats not enough for anyone to go out and buy especially ahead of key reports due out over the never few days. Wait on the sidelines. Dow is still coming down and will revisit lows it saw last Tuesday.
This is all speculative ferver, short term at that, because it's a manic merger Monday. Watch us close in the red. There. I said it.
Already falling off highs. Will be curious to see if even meagerly positive news this week can spur a rally, if there is any. I just don't think the market is ready to advance heavily until it sees a pullback and the lending sector is sorted out and shown to be steady.
I think the dow stays green all day, may get another opportunity at intraday highs, if so triple digit gains could be here within the next 1-2 hours. Wouldnt be buying into it though...