Monday, April 26, 2010
Running Out of Gas
This market looks like it exhausted itself coming back from Goldman and Greece news the past 1 1/2 weeks. There was a lot of firepower used to bring this market back from 1180 to 1216, and all the conditioned Monday buyers this morning are staring at losses. All the speculation I see in the regional banks tell me that the speculators have no fear. I will be looking to find a spot to get short sometime this week. Longs are poor risk reward at this point.
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