Comparison with 5/30/06
What I think doesn't matter, just looking for similarities to try to understand. That was after memorial day so there is one. It also occurred after a large runup. To me it looks like desperate optimism, or central bank activity. Being that Cable is overlyspeculated on, I'll just assume extreme optimism in the midst of a steep runup in cable. I'll be looking to short from here on out. Of course it is dangerous to go against the larger trend, but a shorter term trend is still down. MM will be key here as always.
What I think doesn't matter, just looking for similarities to try to understand. That was after memorial day so there is one. It also occurred after a large runup. To me it looks like desperate optimism, or central bank activity. Being that Cable is overlyspeculated on, I'll just assume extreme optimism in the midst of a steep runup in cable. I'll be looking to short from here on out. Of course it is dangerous to go against the larger trend, but a shorter term trend is still down. MM will be key here as always.
Man who scratches ass should not bite fingernails