Well it was certainly volatile! Very interesting... last night Dow started red and became redder almost reaching -200 pts. Then I woke up in the morning and saw that Dow went back into green. What's the reason for this? CNBC quoted that professionals are buying in on the cheap price causing erasing of the losses. Volumes seem abit higher than normal. This forms an ugly hammer. Good thing. Just need a confirmation to the upside again. I hope this is not a prelude to double top.
Tuesday, May 18, 2010
Dow ekes out a gain
Well it was certainly volatile! Very interesting... last night Dow started red and became redder almost reaching -200 pts. Then I woke up in the morning and saw that Dow went back into green. What's the reason for this? CNBC quoted that professionals are buying in on the cheap price causing erasing of the losses. Volumes seem abit higher than normal. This forms an ugly hammer. Good thing. Just need a confirmation to the upside again. I hope this is not a prelude to double top.
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