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S&P 500
5,277.51
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0.80%
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US TECH 100
18,064.80
(
0.02%
)
Dow Jones
38,686.32
(
1.51%
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Brent Oil
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0.27%
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Post# of 16651
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Re: rjbluesky post# 2111

Wednesday, 07/08/2009 11:14:55 AM

Wednesday, July 08, 2009 11:14:55 AM

Post# of 16651
Spikes come from chasing. The spikes end when the smarter traders take profit from loading up well before the spike.
That overreaction to the upside will eventually lead to a drop, a slight stabilization. Then that stabilized price can easily be pushed below emotional barriers. That triggers an overreaction to the downside.
And there its cheap loading up again. Think about it .. its an easy 100% gain from riding this up and rebuying lows.
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