This market only goes up. We have busted through 1200 and there is no stopping this market. Everyone has turned bullish as even the traditionally bearish on Fast Money halftime report have gone bullish. I expect a nasty reversal that can happen at anytime. I am sticking with my short position and will sit tight.
Wednesday, April 14, 2010
Inflating Balloon
This market only goes up. We have busted through 1200 and there is no stopping this market. Everyone has turned bullish as even the traditionally bearish on Fast Money halftime report have gone bullish. I expect a nasty reversal that can happen at anytime. I am sticking with my short position and will sit tight.
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2 comments:
Owl, don't you think there are some big players out there, determined to keep the ES above 1200 until OPEX day ?
I tend not to subscribe to conspiracy theories or big players manipulating the market. I just think we're in the middle of a blowoff top. It feels unnatural and forced. I don't want to try and trade around my short position now at these levels. It has gotten absurd.
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