"So what did you do today?"
"Nothing."
"Again?"
Interesting one-word banter with veteran trader and FMer, Antediluvianist as we headed for lunch a couple of weeks back.
Just read whipsaw's technical reports for the past month and one gets the tentative mood of the market these days. Everyone's waiting for that one big move to resume yet again. The "W" pattern I was monitoring on the market, well it's looking more like an "M" now, as the Phisix is nearly back at the subprime lows, and we're all wondering if this is a credible sign that the market is headed further down, much to the chagrin of those who are holding some of their beloved stocks (hey, most of FM is ipit something nowadays).
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