amy134679
6 posts
msg #76213
- Ignore amy134679 |
7/9/2009 9:06:32 PM
In the filter exchange forum MARY4MONEY said:
'THEY ARE USING THE BANK STOCK EARNINGS TO GET THE NEXT BIG LEG OF THE BULL MARKET GOING-they faked everybody out by breaking support and different ma s the last 3 days-but yesterday was the market bottom"
This is the third reference to a 'fake out' that I have heard regarding Weds price action. The first one said that the shorts were being set up for a 'bait and switch' and that the market was about to turn positive and the other reference was discussing if Weds was going to be a 'fake out' or if the market was going to break down to new lows.
So my question is this, what is this 'fake out' people are talking about? I understand that people get 'faked out' intraday all the time and that's understandable. If you are dealing with shorter time frames then you are bound to get more false signals, well that how it seems to me anyways. However, this 'fake out' talk seems to be referring to something that has possibly been deliberate and also to a momentum that could last a few days or more. I also am curious as to why people think this is a 'fake out' and not just short covering.
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Eman93
4,750 posts
msg #76218
- Ignore Eman93 |
7/9/2009 10:13:15 PM
Nobody knows.......since TRO dosen't post here much any more....
"Stocks go up and stocks go down.....trade what you see" - TRO
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johnpaulca
12,036 posts
msg #76229
- Ignore johnpaulca |
7/10/2009 1:09:48 AM
I believe the reference to the fake out was the breaking of the neckline for the H & S pattern exhibited by the Major Indices. This is a bearish pattern, most market technician read this and take up short positions...I did.
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