ETF SWING & DAY TRADING

[husk]

Hi FM.....I have been expecting a bounce due to the large o/s of the momentum indicators..yesterday gave a nice pos div on the rsi..and this morning seemed to confirm that as the price rose. The sharp downturn in the markets in the last 2 hours convinced me that the morning hours today was "the bounce".

Of course there will be another bounce, but apparently it will occur from lower levels. Drawing from PKPet's post on another board...apparently the SEC rules for margin players have changed..and he cites that as the reason for this whole drawdown, as players have had to sell to meet the new requirements. All of which was news to me, since I never use margin.

I have stopped looking for a reflexive bounce due to oversold conditions..since I don't know how long it will take to work off the margin players selling. I am mostly in cash, with a bit on the short play. regards.