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Tuesday, August 14, 2007

Do You Smell A Bear Trap?

Barely broke through the previous low, but on low volume. Be cautious about jumping into short positions, I smell a bear trap.

Nasdaq is still above the previous low, and technically still in a rally attempt. Again, low volume indicates sellers are drying up, even if buyers aren't rushing in.

The NYSE composite looks worse, breaking it's previous low by quite a margin, buty again, low volume. I suspect we will see a bounce tomorrow.

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