Close:
ISE equity ends the day at 154, a no fear reading, magnified by two days above 200 last week. Everyone is buying calls hoping to catch a labor day rally. That is exactly the kind of mindset I warn traders against during a bear market. Complacency during sharp down days that close at or near lows is conducive to lower prices. Be on the lookout for a bull trap this week.
ISE equity ends the day at 154, a no fear reading, magnified by two days above 200 last week. Everyone is buying calls hoping to catch a labor day rally. That is exactly the kind of mindset I warn traders against during a bear market. Complacency during sharp down days that close at or near lows is conducive to lower prices. Be on the lookout for a bull trap this week.
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on Monday, August 25, 2008 at 8/25/2008 04:12:00 PM.
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