Friday, June 8, 2007

Can't The Bears Use An Oversold Indicator?

I mean for Christ's sake, the friggin' futures are down again this morning. It must be the late-to-the-party crowd jumping on the short side a couple of days too late.

And just in case you weren't paying attention, I said about a week ago, that when this guy starts taking directional trades, that it would represent a market top. Was I right, or what?

I've got a meeting starting at 8:00 a.m., and it is out of the office. So I will not have access to the markets until around lunchtime. I've set stops on all of my positions except for MVIS. That will just have to do for now.

I noticed on my local news station that they had one of the CNBC pretties talking about the market tanking. When that stuff starts happening, its time for a bounce. I fully expect for a flat to green day today.

5 comments:

mdawsz said...

Wood, we're all wondering if you managed to get the lamp?

(Sorry I couldn't help myself)

Woodshedder said...

Mdawsz- its only because I believe firmly that if you are going to bust balls, that you will have your own balls busted, which makes me not delete your comment. So I'm leading by example here.

Woodshedder said...

And Mdawsz- If I find that you screenshotted that comment, I will borrow Fly's internets ray gun and take down your entire 3rd tier blog.

Trading Goddess said...

I could swear I saw that screenshot for bid over at EBAY???

Woodshedder said...

lol...I should have known that I'd have to pony up one way or the other!