The Daily Dose of Trading Comments

Here you'll find short quips concerning the market mood and direction posted intra-day as the market dictates and time allows. You can find TATs strategy here. Comments here are from a trader who trades for a living.

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Friday, May 27, 2005

Even though this market needs a rest to refresh for the next push, it simply refuses. The refusal tempts those who wish to be long and those who are caught in bad shorts to give up and join. That's the nature of the beast. I continue to look for and make adds but I've very two-sided up here as I expect we get a sharp short correction be the end of next week at the latest. I believe that buyers will appear afterwards though and begin picking at this market again. That will mark the last chance for volume and internals to show promise. If they don't then we likely have a topping pattern forming. That's the way I see it.

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