Hi Yogi: In my minds eye the rally wasn't real buyers to start with,
the dollar gaped up some early on and parlay players sought to
close shorts in case it went on up.
Most of it was done in the Forex and Futures market with derivatives
as they closed shorts on the futures it gave the market her spike,
volume was far to low for it to hold.
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You know on the News & particularly CNBC you always hear them
parroting the "profit taking" yada yada when the market dips
after a run up. Well there are shorts who take profit too !! <G>
and that's often the reason for bounce in a down trend.
Beyond that the Forex parlay players are fast to cover shorts
if the dollar starts up as they tend to short the market
when the dollar is high and cover when it's cheap.
It's hard to read much into this on such low volume, I just
watch my DVW index and daytrade the QQQ off it.
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I can't figure what will really rally the dollar, and some time
back I said it's index target was about .95 but I didn't know
if it would go that low, any way until it stops showing
weakness the market will likely slide south , however
if the market rallies on a low dollar then tahts a signal the big money currecy/stock/bond parlay players are likely coming back in
and after they take positions then the dollar will start up.
It's a rigged game my friend and all the yada yada CNBC puts out
is just for the suckers.
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You know how they say "truth" is the first victim in war,
well the stock market is an ongoing money war. The larger
news thingys like CNBC are in a conflict of interest they
won't get any tips , and may lose a lot of Add money if they
get too honest. You ever notice how even on a day like today
they skew things with a positive slant.
We had 194 new lows and 41 new highs, but if you
watched CNBC you would have seen them hold up to the light
about 19 new highs to 4 new lows, ever notice when
the decliners beat the advancers , they acknowledge that as
they can't very well lie about it, but on the other hand
as they comment on stocks, things always turn out
that they comment mostly on winners with a few losers
tossed in to make it look like they are objective and
balanced but it's crap; of course someday may come they can't
find any winners to comment on, then we will get some balanced
news.
Jim
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