Tuesday, May 25, 2010
Monster gap down this morning
after the dow being down close to 300 and the 1044 low of feb violated on the SnP, the market is bouncing.. at the 1040 level. I would think the next level would be 1020-1030, or 1000 even. at any rate, the TRIN has come down to 100 neutral mark after being up to 220. the ADD has leveled off at -2700 and the tick has turned slighly positive. My feeling is this is just a bounce that will suck in the bottom fishers, only to plunge deeper... or that could also be my wishful thinking. TRIN turning back up again, bearish at 7:20. Unfortunately I failed to pick up 3 big shorts in my georgebailey account that the system gave buys on. The entry was on a gap up day, so I was waiting for better pricing on a pull back of TZA, TWM, and SSG but it never came, now I am about $4k behind the systems where I should be, following them exactly. OIY!
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