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Trader Mike
This is just a sample of the content found on this website. Please visit the website to read the entire page. "Trader Mike http://tradermike.net/ en Wed, 08 Jul 2009 16:06:56 PDT Movable Type 4.24-en http://www.sixapart.com/movabletype/ no 33.771755 -84.38065 http://creativecommons.org/licenses/by-nc-sa/3.0/ http://feeds.feedburner.com/~fc/TraderMike?bg=&fg=&anim=" height="26" width="88" style="border:0" alt="" Subscribe with My Yahoo! Subscribe with NewsGator Subscribe with My AOL Subscribe with Bloglines Subscribe with Netvibes Subscribe with Google Subscribe with Pageflakes Subscribe with Plusmo Subscribe with FeedLounge Subscribe with The Free Dictionary Subscribe with Live.com This is an XML content feed. It is intended to be viewed in a newsreader or syndicated to another site. July 8, 2009 Recap and a Couple of Charts http://tradermike.net/2009/07/july_8_2009_recap_and_a_couple_of_charts Stock Market Michael Wed, 08 Jul 2009 16:06:56 PDT tag:tradermike.net,2009://1.3810 This was one of the more volatile choppy sessions in recent memory. We've certainly had our share of intraday chopfests but they've mostly been thrashing around in very tight ranges. Today things oscillated much more and it really felt like things were getting overdone on the downside. Today's volume surge also makes me think that we've seen a selling climax, at least in the short term. As on Monday, there were a lot of bullish reversal candles made today. I like today's candles better though because most had much longer lower wicks, volume was higher and things are more oversold than Monday. However, the prevailing trend on most stocks is still down so I think the bounces are probably shorting opportunities. Of course, at this time of year you've got to know when any given stock is reporting earnings as those reports and guidance can easily trump any short term technicals. The S&P 500 probed that 875 support zone that everybody's watching. I think it's too extended to breakdown here without some bad news to drive it. Here's the Nasdaq chart: OIH looks l" .... read entire page
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