Friday, February 05, 2010

Volume = conviction



The crux of the day so far was this moment on the QQQQ. The first picture shows the QQQQ popping quite hard up. The second picture shows where we are now. I had to decide if this was real or not. Looking at the low volume on the candle told me there was no conviction and that it was more manipulation than anything else. I decided to stick to my shorts/ETF longs I initiated 35 minutes before.
The probabilities held up and we are now approaching the low of the day

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