Wednesday, July 16, 2008 3:39:06 PM
Nirv - There's nothing like holding a position to reveal your true convictions. 
The thing about today that concerns me the most is the relatively light volume, so I suspect that this was mostly driven by pent-up retail demand. Normally when the Boys are playing, the moves are much more vertical. Let's see if it is enough for the elephants to follow suit, or is just a nice little one day bull trap. I also suspect we'll see some of the weak Longs heading for the exits here shortly, not yet willing to hold overnight.
The thing about today that concerns me the most is the relatively light volume, so I suspect that this was mostly driven by pent-up retail demand. Normally when the Boys are playing, the moves are much more vertical. Let's see if it is enough for the elephants to follow suit, or is just a nice little one day bull trap. I also suspect we'll see some of the weak Longs heading for the exits here shortly, not yet willing to hold overnight.
Kind regards,
-CAPT J
"What would you attempt to do if you knew you could not fail?"
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