Wednesday, July 8, 2009

07.08.09 - Another One-Way Trade

After a weak and uneven opening bounce, the market turned sharply and has gone nowhere but south with momentum continuing to build to the downside. The market "should have" bounced by now, but there are no buyers to be found and we are clearly back to a day trader's bear market.

Post Market: Alright, did we ever leave that market (above)? Nice end-of-day reversal on volume, though, which I'd have liked better if it wasn't so overdue. AA beats, maybe we can juice that little-w bottom going into the weekend after this sizable rout.

Never Investment Advice

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