Sunday, June 1, 2008

Crunch Time

This week is going to tell us alot. Despite the markets rise I thought the action was very bearish. Very very light volume, the XLF continued to get killed as financials headed lower, economic news that would have bought with a vengeance a couple of weeks ago was bought tepidly or sold, and ABX broke to the downside. If we get the normal beginning of the month bounce and touch 1410 and then sell off, watch out!!

Who knows right? Just in my mind and watching things unfold, we are at one of the highest probabilistic moments of continuing downward moving back below 1370. I may have handicapped the situation wrong, I do not profess to be a great trader. Should be interesting.

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