Wednesday, November 11, 2009
Bears Show Up
The bears know how to be dramatic, they were hiding in the woods and while the bulls were grazing and have ambushed them after they got giddy on the false 1100 breakout. Looks like bulls will be sidelined for a few hours before they gather themselves for the close. Market is convulsing at these sky high levels, the air is thin, and that's how you get these sharp down moves. I am just watching for now, but things are starting to get interesting.
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2 comments:
Do you think that the baseball, football, and basketball teams (cubs, bears, and bulls) were all named that because of the commodities markets in Chicago?
I hope that was the top today.
It's starting to look that way. If I'm right, next stop 1070.
I am surprised we got up this high. I thought 1070 was as high as it could get. Took off another 35 points on top of that.
I don't think today was the top. This thing will not go down quietly. I didn't see frenzied buying today, or a reversal that will last. I will short later above 1100. It actually feels good to be flat and not have bulls stomping on me for being prematurely short.
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