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发表于 2010-7-7 07:19 AM
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本帖最后由 csw2002 于 2010-7-7 09:21 编辑
Big paper buy orders came in the last 30 minutes of trading yesterday and locals were forced to cover short and it added to the rebound seen. MS bought 500 cars on the close of cash markets. We could see some follow-through today given how aggressive papers were on the buy side after yesterday's low was made.
However, yesterday also saw 1700 new 20 day lows for stocks across AMEX/NYSE/NASDAQ vs 500 20 day new highs. This is not a sign of strength at all. In addition, my custom program sell indicators had recorded 38 occurrences of institutional program selling vs 4 instances of institutional program buying. These numbers indicate that we are still in a distribution phase and further lows are still ahead. |
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