Bulls chase the big counter trend move to the upside and then subsequently get "trapped" when the market continues back to its downtrend following a pull-back from resistance. Bulls are trapped because they are typically chasing the big moves in the market and are buying at the top of the correction - as was evident in surge up in the trend. Once the market starts to fall ie as SP is still in a down trend, these new bulls try to extricate themselves from the trap by selling. That selling pressure feeds back into the down trend and amplifies the subsequent move back to the downside.......
All in all, there is no fundamental with current market, all sentimental driven! So enjoy the wild ride and wait for the up turn in 09/10!
CEY Price at posting:
$3.03 Sentiment: LT Buy Disclosure: Held
