Thursday, April 8, 2010
Momentum Rolls On
The market gave the bears a sample of some honey this morning and ripped it away. New marginal highs look to be on the horizon as we head into earnings. I don't think the shorts want to be short ahead of the weekend so we'll probably get the last bit of short covering tomorrow. I think 1188 is in the cards for tomorrow which looks to be very close to the top of this move.
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4 comments:
I swear man, it was all good until I decided to get short in the beginning of March.
That was a serious mistake.
no body should ever go short again...
no I agree with S&P. They are probably controlled by Obama who is probably short. I can't say right now is the top but I agree with their contention there will be a 10% pullback before going to 1270 by year end. It will be a good shorting op followed by a great long op. Hope you are reading this Market Fowl. Great long op probably around starting from end of july august. This month the selling should begin and will be the bottom when census workers are no longer reflected in nfp.
also can't forget mkt will be increasingly burdened with the prospect of a rate hike and once it actually happens will it be able to get this notion off its chest
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