A trader's day, once again. Distribution at the open is becoming the norm as many investors are gradually booking profits on rallies. I don't think there really is a lot of new money jumping in here, but many traders are working the seasonal push into Thanksgiving. Shorts are weary of holding overnight and they invariably cover into the close. It's choppy and toppy, but bulls are hoping for one more spark to ignite some buy stops above resistance. They will be met with profit taking at every turn until we get a decent pullback.
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on Monday, November 20, 2006 at 11/20/2006 04:22:00 PM.
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