Friday, January 20, 2006

 

Intraday & Marketz : More volatility

In six sessions, the QQQQs are down close to 4.5 % from their most recent intraday highs. SMH recorded its intraday high of 40.64 six sessions back. Since then it is down more than 8 %. No one is using the C-word yet. But I will. Its atleast a mini-crash.

I wrote recently back that I thought the pullback was over. Well, I was wrong. But I did notice too much giddiness in the market that led me to close out my bull call spread-though in retrospect I was more lucky than smart.



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# posted by Kaiser Soze @ 1:40 PM
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