Absolutely Breath-taking Failure at 1100 in the Last Thirty Minutes of Trade

We set a technical short at the top of the range around 1100, and caught this downdraft. But it does not help that we're making money but don't know why. We were mostly just killing time and playing Fallout 3.

Rumours abounding.

Dick Bloviate downgraded WFC, but the unspoken reasons why are the most interesting? Something wicked after the bell? Executive pay? Earnings?

Hedge funds front running their pending indictments?

Nervy longs watching for a serious move to the exits? Typical wash and rinse at day's end in a late stage Ponzi market? The trading desks casting for shorts?

We would not call this one unless we break support at 1060 and spike it hard.

Just another day for the naturally efficient markets in the reign of The Great Reformer.

Stay thirsty my friends.