Hi Monty...congrats on scalpin' some on Cisco...Let me argue, however, that it would be MORE bullish for the Naz to come back and finish positive for the day (two days in a row)....then, had it gapped up......I think any gap up would have gotten sold anyway...
Right now, I think shorts (like Bambs) are very confident that the Naz is back to "same old, same old" today.......a rally today would seriously cross some wires, and leave some doubt...
I think the case will get better for longs in the next few days....Wednesday- China, yes, Thursday, Greenspan-lite, Friday, friendly April retail sales numbers (market expecting downtick)..Also, if we finish down on the Naz today..that would make 5 in a row...tempting fate (shorts), IMO...to look for more than 4 in a row....
I would agree with you...if Naz closes down today, in a drippy manner.......say -100, -125...that it would be disheartening for bulls..
Volume pretty decent in first hour.... |
