Has anyone else noticed that many stocks are continuously line wiping at lows, letting the sell side rebuild, wipe again...?
It's very strong trade indicating there is going to be a few big moves but damn I wish it would hurry up.
The battle of big vs small keeps on. The XJO needs to come off while the XEC needs to rally. There is no other way this can go from here but still the XJO keeps piddling along.
The ratings agencies and subsequent media attention over the last week have not done anyone any favours either. They are a bunch of analysts that pick holes in everything anyone does but never actually does anything themselves. They have no tangible function in our economy.
