DislikedHere's a good read and my sentiments.
http://www.zerohedge.com/news/rumor-...ining-traction
SNIPPET:
Well, when the China white knight, pardon EFSF, pardon US bailout, pardon ECB lending to IMF rumors no longer work, it's time to start recycling. In the meantime, the chart below shows how stupid this market is. Oh well, thank you for the shorting opportunity.Ignored
ADD: I attached the M30 chart.
Reasons:
- spike is the result of a recycled rumor
- speed and consistency of the spike not convincing: so far, we have a long marubozo, next candle an inverted hammer and then we go red with a long wick on top, that's saying: oops, sorry, I think I got the wrong door here, I'd better check my way back.
Let's see how this goes, market can always move unpredictably.