Friday, May 12, 2006

Blood, I Want Blood!

I am not as blood thirsty as I sound (well, I do have Viking beginnings) but the 10 o'clock reversal isn't satisfying. Two things:
  1. The fact that the market bounced so easily means more pain is in the cards.
  2. It would be a lot better if it hadn't bounced at all. As I said yesterday, NDX-100 running right through 1640 would be phenomenal.
Maybe it can redeem itself by stopping this rally and dropping right through the magic level. One can hope. However, a significant rally from here, will be foreboding and my "catch the knife (no, make that a sword)" mantra will change on the dime.

Trade 'em!



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