Wednesday, February 24, 2010

Like the Other Dips

I think the selloff yesterday was just like the dips that we got after getting overbought in November and December.  The market would go down 1 or 2 days and that would be it.  Traders would get a bit nervous during those 2 days, and then the market would go straight back up.  I expect the same to happen this time.  Until I see more signs of weakness or a rally to 1130, I will shy away from the short side except for quick daytrades.  The easy money still seems to be on the long side.  I expect the 2nd half of the day to be strong today.

2 comments:

Anonymous said...

Long JTX @ 2.30
Ol dawg

Anonymous said...

Nice call on getting it long man.