Tuesday, June 8, 2010

Interim bottom??

Nas is down -13 while dow is up 37. go figure. Russell is down over 1% causing TZA to be up almost 3%. Internals are bullish indicating some accumlation going on at this area of support near 1040. TRIN at 61, however nas trin is still bearish at 163. The RUS blew thru my first target of 613 and made a low of 607.32, my next target is 572. this whole market just feels like its going to keep going down beyond where people think it would/should stop. Just like when it melted up endlessly, way beyond expectations. So I would not be too anxious to take profits on shorts quite yet.

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