Wednesday, January 9, 2008

01.09.08 - Flatlined Ahead of Earnings

The title speaks for itself -- Alcoa kicks off Q4 '07 tonight. VWAP is slightly negative and IWM is showing it the most.


1:05PM CST UPDATE: Oh I'm sorry, did I write "flatlined", apparently there is no such thing in this market. As of right now, buyers are nowhere to be seen -- except in the bond market. Look out SPY $137. Speaking of which, I count nine red SPY daily candlesticks on my screen. More on this later.

1:50PM CST UPDATE: Tick swung up soon after my complaining missive above. This is what the longs would like to see, strength going into the close. Can we hold it? I would guess so, see if we can keep above that VWAP.

NEVER INVESTMENT ADVICE

1 comment:

Mike said...

Ok, a little confused;

was there a "Shall we bounce?" post showing topos and stats for length of decline/subsequent return...or not?

o_O

and if so, how were those done?

Thanks,
Mike