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Boo hoo. We are sitting on a “bear controlled tape.” That basically means the market will continue to drift down, and will only rally if the bears decide to take profits.
Look how pathetic bulls were today. Or maybe it was the bears that were in hesitation, despite being on the right track?
- Failed rally attempt at 13:50
- Then we get another nice spike in market at 14:30, which just turned out to be an LOL-Pattern
- On the bottom of that LOL-Pattern market flagged, then legged lower… a recurring pattern lately = bulls have no follow-through.
- $VIX pulled back from day’s high, then reversed up and filled the gap to a new high.
I’ll have to agree with Soren, that this market doesn’t feel like capitulation. Thus, we keep flagging lower.
Hey, we’re getting some panic into the close. That’s good. Need more blood. Maybe then we can get a VIX spike up, then we can start searching for another squeeze.
Laterz!
-gio-
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same exact thing in my head. All I thought about today was “damn, no short squeeze?”
Did we move higher than 5 points in any increment once all day?
bulls must have listened to my Carmen video last night.
“Toreador, Love awaits you!
And dream away, yes, dream in combat,
That a black eye is looking at you
And that love awaits you”
Caught that FAS trade together, but I was too late and wasn’t paying attention to get into SRS @ $87 and should have noticed the rally enough to pick up GS with FAS… Sadness, but at least we nailed FAS.
=P
Good work zMoose. that gap fill on FAZ and VIX near the close was unexpected. If u caught it, u caught it. o/w we caught the one and only rally attempt today. talk about surgical.
They are protesting the gubbermint. Pretty funny, since “they” caused this mess. Go ahead, shoot yourself in the foot Wall Street. This is the end of NYC as a financial powerhouse.
lol I know right