|
PureBytes Links
Trading Reference Links
|
Sorry to butt in with a stupid question about price action, but did anything
occur to you about today's bar in the March Crude:
Does anybody else get the impression the market's saying it had some second
thoughts about higher ground? Doesn't it look like it reached up, but ran out
of gas? Look, it gapped higher from yesterday's close (although not over
yesterday's high) headed north, blithely bidding farewell to the last swing
high, and then . . . just sorta ran outta buyers, I guess.
Or maybe it's just the folks who got in at 23.50 expressing their gratitude to
all the merry souls who shorted on the post-Christmas sleigh ride (12/28) down
from 26.00. There are just under 2000 contracts fewer now than there were on
Monday. So somebody hit the road and hasn't come back. Know what I mean? What
I'm trying to say is maybe it's not new strong red bull's blood that caused the
run up. Would that qualify the move as a last gasp, as opposed to a "genuine"
resumption of the trend? Maybe the buyers were actually just weak hands running
for the life boats.
Heck, guys, I know it's not a Metastock-related or even an indicator-related
post, but don't you find yourself looking at plain ole price sometimes? What's
a fella to do?
Philip
|