Wednesday, March 17, 2010
13 Day Winning Streak
We have broken out above 1150. The Fed confirmed that they want to blow another bubble and gave the buyers the green light. It is getting giddy, it is a matter of timing the top, but I am pretty sure that its this week. Is it today? Tomorrow? Friday? I think next Monday will be a hard down day, after options expiration. We may squeeze a bit higher, but if we do, those gains I think will be quickly wiped away on a pullback. We should pullback today after bumping higher on the Fed news, but this market has ignored all probabilities.
Subscribe to:
Post Comments (Atom)
Posts
3 comments:
Guys, look at the German DAX chart. They're almost at previous highs. Watch for double top. If they drop, we drop.
I'm definitely going to stop being as bearish about the market after this.
That trade will no longer be relevant to the economic conditions going forward.
That is the main problem at these levels. Many people still think the market is cheap compared to how high it's been 3 years ago.
Dumb money, there's a lot of it.
Post a Comment