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Just a few observations, all of us have bad days, and good days.
Am simply stating my take on the disillusioned mood of a few traders
I know, and a few trading sites. Daytraders may have escaped unscathed, I
barely made it into positive zone, mainly because I was not a believer for most
of the day, even though the market was warning us in no uncertain manner. But,
when NASDAQ futures relaunched above 1560, I was convinced this was headed much
higher. Huge amounts of stops were hit, new shorts entered, all the way up,
especially the rally from 1182 to close. Massive daily candle, a KEY reversal
day, is it? Pre-Option Expiration Wednesdays are usually wildly volatile, but
this one was about the most volatile for some time.
As usual, it was the big guys who initiated this move and they were the big
winners.
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