PM update (2):
There was some great trading in the past hour. Now we settle into end of day and end of week. I suspect not too many heroes out there. But we are right above very strong support, namely COMP April gap (2287), SPX January lows and of course QQQQ, now back up above its already closed April gap. At this stage, the dangerous and low-odds play is being short, not long. We could get one more drive down on Monday, but there is a 4th of July rally in the wings.
There was some great trading in the past hour. Now we settle into end of day and end of week. I suspect not too many heroes out there. But we are right above very strong support, namely COMP April gap (2287), SPX January lows and of course QQQQ, now back up above its already closed April gap. At this stage, the dangerous and low-odds play is being short, not long. We could get one more drive down on Monday, but there is a 4th of July rally in the wings.
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on Friday, June 27, 2008 at 6/27/2008 02:40:00 PM.
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