Closing hour:
NQ gets back above 1787.75 and we could get that short squeeze in the final hour. Resistance will be 1792, 1796 and 1803.75. It will all depend on holding 1787.75 on a 3mn.
ISE equity is at 163, too much optimism so again, any bounce is just a trade. It's strange to see that ISE with such massive negativity in today's press. Remember that cash is also a position. Hedge funds are playing big size futures contracts on the short side to try and get some money back after the summer. They are desperate, but note that we have gone nowhere the past to hours, up or down. Something will have to give. TRINNQ has dropped to 2.97 from the 4.65 high, while we stay flat.
NQ gets back above 1787.75 and we could get that short squeeze in the final hour. Resistance will be 1792, 1796 and 1803.75. It will all depend on holding 1787.75 on a 3mn.
ISE equity is at 163, too much optimism so again, any bounce is just a trade. It's strange to see that ISE with such massive negativity in today's press. Remember that cash is also a position. Hedge funds are playing big size futures contracts on the short side to try and get some money back after the summer. They are desperate, but note that we have gone nowhere the past to hours, up or down. Something will have to give. TRINNQ has dropped to 2.97 from the 4.65 high, while we stay flat.
This entry was posted
on Thursday, September 04, 2008 at 9/04/2008 03:07:00 PM.
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