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http://online.wsj.com/article/BT-CO-20100115-710467.html?mod=rss_Hot_St…
violently? ask us again at dow 4000
ha, agreed. We actually rallied late almost 40 pts. This was a routine down day. Advance-Decline was barely 3-1 on the downside.
I trade on the short term, and I am a novice and not here to argue.
This was noise in the long term even if we see a 5-10% correction from here, this was violent in the short run but just another example of support and resistance. I follow equity indexes, specifically the SP500, and 1150 was a nice round number to bounce off of, a number that showed slight resistance a few sessions ago, why not do it again? 1130 was support so we hit and bounced off for the third time in the short run.
Who the hell knows why we sold off, decent earnings negative reaction is bearish, but I still think its noise...and I will trade off of these two numbers in the short run...
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