This market is doing its best job to frustrate the bears to the point where they all just give up. If Dubai World couldn't do it, what will it take? Long established bull trends die hard. The sell set up will need a few more days to line up. After a shock like we had last week, it takes a few days for the bulls to get totally comfortable. The best time to sell is when the bulls are relaxed and comfortable. We are not there yet. I suspect a good jobs number on Friday will go a long way towards establishing that objective.
Monday, November 30, 2009
Die Hard
This market is doing its best job to frustrate the bears to the point where they all just give up. If Dubai World couldn't do it, what will it take? Long established bull trends die hard. The sell set up will need a few more days to line up. After a shock like we had last week, it takes a few days for the bulls to get totally comfortable. The best time to sell is when the bulls are relaxed and comfortable. We are not there yet. I suspect a good jobs number on Friday will go a long way towards establishing that objective.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment