RE: [RT] this mornings move

["Terry Rhodes" <trhodes3@xxxxxxxxx>]

imo, the move this morning was definitely not short covering. The major players reactively sold the run up big time. There was no volume in the afternoon. I think of this as a Wiley Coyote day, the market ran off a cliff and is pedaling air but doesn't know it yet. Whether this is just earnings season caution or something more negative remains to be seen.

 

regards,

 

tbr

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From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of Jim White
Sent: Monday, October 19, 2009 10:11 AM
To: realtraders@xxxxxxxxxxxxxxx
Subject: [RT] this mornings move

 

The up move this morning occurred on very low net advancing shares and low net up volume indicating to me it is mostly short covering. I think we go lower at the close. Anyone else have an opinion ?

 

Jim White

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