Chokehold by traders…

Posted on Jun 11, 2012 by in Letters$SPX&p=D&yr=0&mn=3&dy=0&id=p88572661534&a=214966864

Seizing the opportunity to turn good news into bad news, traders jumped on the upwards price spike caused by the news that Spanish banks would get a 125 B (billion) B (bailout) and instead created very negative technical situation.  What they do is judge when a wave has passed to moderately oversold or overbought and then hammer it.  The price spike gave them an ideal opportunity.

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