Yes, Shack, it might give us more clarity, and I agree at the moment there's no conclusions that can be drawn. I see CSCO, GE, AMGN, and occasionally AXP green today, so it's clear this isn't bloodletting yet. But if that was our S+P test of 1015 (cute, but there) the bounce off it is not so great. And more than being bearish, I'm just surprised you don't appear to have alternates. I mean really... from here, it wouldn't take much of a bad close to create some technical issues.
Yesterday you'd said that how IBM handled 90 was a key issues. I realize it's just one try, but so far it's failed. I would be willing to bet that a lot of folks here felt IBM would gap up and run (though I doubt anyone bought tons of Sept calls betting on it!). Now candleheads will likely focus on the IBM pattern as rather bearish. They haven't shown followthrough, of course, but I am still just surprised at your sanguineness (sanguinosity? calm?).
Maybe today is simply about 9/11 fear. Maybe "patriotic bulls" will rally us into the close buying this fear. Or maybe everyone will bail like nuts. I dunno. I'm gonna go to brunch <g>
the freep |
