I'm guessing 63 3/8 or so by the close, if They leave us alone for the last hour -- there was a lot of interest in that area twice today -- unless we have another paint job in the last hour like yesterday, then who knows.
That march to 65 was to satisfy the "50% retrace" folks, unload the morning inventory, nail some fund that bought like 95K shares right at 65, and finally spike to 65 1/4 to give the finger (you can see it right there on the graph, cool!) to anybody who figured the 50% retrace guys who shorted at 65 were chumps. If you have intraday tick history, you'll be hard pressed to find a rise as constant and as controlled for as as long a time as that was. No breakout there.
Dunno if I want to go home flat and hope to catch an early dead-cat bounce (like Monday was) or just go short at 63 1/4 and be done with it. A market-wide rise like yesterday gets me short on the close whatever the price is.
Let's see if They are satisfied with DJII +100 and NASDAQ above water or if they make another 2:45 bear raid.
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edit @ 2:47: Hmm, that sure looked like a good bottom back there at 2:15 / 62 3/8, huh? If it's bottom, they can run it up without my help. The only play I might put on here is a short on a market-wide paint job. (NASDAQ down 6, dunno if They care about that any more or not.) |
