warty wednesday, page-154

overall, tactics say long spi is the better trade atm.. uk not off as much as spi, neither are spx futs, and there is the question as to whether spi decline today was a prelude for a ramp overnight for options close in the morning.. in other words, maybe .. repeat maybe.. there will be a short burner on spi tonight.. that would satisfy the banks in the morning.. and after that who cares.. so how do we separate a genuine decline from a suck in the shorters decline?.. I guess we all decide that for ourselves.. but bear in mind.. the decline during xjo trading hours means that a lot of shorters are now locked in and can't exit til xjo opens in the morning...