For every buyer, there must be a seller. That we know is true. But that is a high volume day. Where is the support underneath? Note this also corresponds with ATO being inaugurated into the S&P 400.
Friday, October 30, 2009
ATO: A Box of Rocks
While I do not pretend to have a refined eye, I do find this level of activity interesting.
For every buyer, there must be a seller. That we know is true. But that is a high volume day. Where is the support underneath? Note this also corresponds with ATO being inaugurated into the S&P 400.
For every buyer, there must be a seller. That we know is true. But that is a high volume day. Where is the support underneath? Note this also corresponds with ATO being inaugurated into the S&P 400.
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8 comments:
wow...what a difference a Friday lunch "hour" makes....vix spiking up 18% !!
I think we know the answer to whether or not the character of the market has changed.
check that...vix spike up to 25%...now that's a panic rush to downside protection.
Indeed....and it's a reminder that you buy protection when the VIX is low.
Fascinating, eh?
Cat
Not to be too negative or dramatic or clever, but there was a spookiness to the market action this week that has me wondering what will happen on Monday. A few weeks ago the comparisons to Oct 1987 were flying around. I disagree with that comparison. The market conditions are not the same. However, that does not mean the result can't be the same. Madhedge for one has been pounding the table for folks to go on defense or step aside.
http://www.madhedgefundtrader.com/October_26__2009.html
http://www.madhedgefundtrader.com/October_29__2009.html
Have a good weekend everyone!
Cat....it is indeed fascinating. If I had to guess, it would be that we get one more gasp up to get a little flattening of the moving average on the SPY. But, that is absent any disturbing news. We are a bit of a tinder box now.
(No scratching around in the woodshed)
Hi Glenn: Yes, I've been reading Mad Hedge fund....very interesting. Thanks for the links. Yep, the market is getting spooked...trick is whether it is temporary or permanent. But a pull back was needed. Let's see how far it goes.
Sustained downtrend not confirmed by my technicals. I am waiting to see Monday's action and possibly more. Premature shorts could provide fuel (again) for poorly constructed rally to retest highs. My intuition is we see at least a probe lower before that attempt.
MarkM
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