02 March 2007

People Want Out

This chart of a compilation Tick reading of both the Nasdaq and NYSE shows today's struggles as we've spent most of the day under the zero line...the markets have established new intra day lows here and the bounces are very weak...have to have BIG BALLS to be buying here as I didn't expect this kind of pressure...just a slow afternoon... further lows will have me covering some smaller core shorts that I still have from this weeks drubbing...a stall and drift from here (around 1735 in the NQ futures-42.60 in the QQQQ) and I'll hold for a further washout Monday or Tuesday...jfg.

No comments: