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Google Inc. Message Board

  • saltairian007 saltairian007 May 29, 2009 2:29 PM Flag

    Is the market going to sell off at 2:30

    your thoughts are requested.

    In my opinion, the mms are going to take their profits and are not looking to hold over the weekend. Too many unknowns: the economy, North Korea, GM, etc. Best to book your profits at or near highs of the day.

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    • I'm beginning to think that the market rolling over on Monday is too predictable. I'm hurting from playing the downside - got too aggressive with that plan a few weeks ago. I expect the indexes will rise above previous resistence, create a big short squeeze ralley, and then the market will tank.

      • 2 Replies to mrktplyr
      • I don't see a short squeeze rally because goog has shot up from 390 on Monday to today's high, a 26 point gain. The shorts that played at 390 to 410 either covered or are staying, thinking it will drop back below their entry point. Those who entered today are clearly not covering, thinking it will close at or near yesterday's close. Too much run up too soon for real shorts to capitulate to today's highs. I don't see goog running up above today's highs in the near future.

      • If you are asking if they are going to let the shorts out of this trap today, the answer is no, they are going to tighten their coils right up to the close. I think they will make it close above 26.

 
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