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[amibroker] "V" versus "U" and even dead cats bounce



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Well we are bouncing today after several fakes in both directions.
With 15 minutes left we are on the highs, up about 1 percent basis
the 225, but only about 0.25 percent basis the broader TOPIX.

It looks like no conviction today, just futures driven; the Osaka
Boyz apparently want it up today on the close, and nobody can fight
them. I'm figuring that if it's a 'V', it's trouble ahead.  I want to
see a 'U', which gives me a lot more confidence.  This 'V' could go a
ways of course.

Yuki (who did laundry instead of going to the mountains today; it's
going to rain for a couple days starting tomorrow)  ^_^

P.S. I read the financial press today, something I try NOT to do very
often, and what a joke.  Last night it was all about how this market
has been mortally wounded, and will not be challenging the highs any
time soon.  This morning (maybe after some phone calls from
government officials?) it was all about how day traders and
unsophisticated (me?) margin traders caused all this, and how it will
all be resolved very quickly as they are washed out and foreign
institutions bargain hunt.

Oh?

Institutions (foreign anyway, which have been the fuel for the
rocket) became net sellers on 11/6, and have been net sellers every
day but one since then.  They are net sellers for the entire month of
November.  They were heavier sellers today than yesterday.

Now I remember why I don't read these fish wraps very often.


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