StockTwits
07-17-2010, 08:31 PM
Maximum Boom-Boom | chessNwine (http://abnormalreturns.com/links/170869/visit) (ibankcoin.com)
by chessNwine 1 day ago
Despite the exuberance associated with the influx of breaking headlines in yesterday’s final hour of trading, today set up to be a classic case of selling the news. Add to the mix that today was also an options expirations Friday, plus the fact that we had some major earnings after the bell yesterday, and it is no wonder that traders’ emotions are oscillating from bullish to bearish as violently as the indices are from overbought to oversold. With the S&P 500 closing down 2.88% to 1064, the bulls are still counting on a higher low to end this correction. Alternatively, the bears are seeking to push us below the crucial 1040-1050 zone, yet again, to confirm the next leg in this downtrend.
see story at Abnormal Returns site...(RSS feed) (http://abnormalreturns.com/links/index?date=07/18/2010#170869)
by chessNwine 1 day ago
Despite the exuberance associated with the influx of breaking headlines in yesterday’s final hour of trading, today set up to be a classic case of selling the news. Add to the mix that today was also an options expirations Friday, plus the fact that we had some major earnings after the bell yesterday, and it is no wonder that traders’ emotions are oscillating from bullish to bearish as violently as the indices are from overbought to oversold. With the S&P 500 closing down 2.88% to 1064, the bulls are still counting on a higher low to end this correction. Alternatively, the bears are seeking to push us below the crucial 1040-1050 zone, yet again, to confirm the next leg in this downtrend.
see story at Abnormal Returns site...(RSS feed) (http://abnormalreturns.com/links/index?date=07/18/2010#170869)