Nine
its quite possible that, we may be seeing the formation of a failed breakout. resistance at 8200 - carries through to say 8300 or 8400 only to lose it all and fall back smashing through support.
Have certainly seen that happen to countless stocks over the years, never really noticed it in indices but I'm sure it has happend.
It would probably be wise, if holding long positions right now, to place relatively tight stops - I always move mine to break even when they are 20 points in the profit. Holding shorts now 'may' be quite risky, any short squeeze could be intense, already seen that really - i took it on the chin last night closing out my short.
Nineits quite possible that, we may be seeing the formation of a...
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