Thursday, April 8, 2010
That Didn't Last
Well the weakness lasted for about an hour and we have been going straight up as we've done so many times in the past. It seems like this market is going to rollover and then we exhaust the selling and melt up again. The pullbacks are so shallow I can't imagine the dip buyers getting much of a chance to get long here. The momentum is ridiculously persistent, the selling is unmotivated. We'll likely hit new highs again before the next downturn. If Greece fears can't bring this market down, it has to be something else. Or maybe just a sell on the news from baked in the cake strong earnings season.
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3 comments:
You seem to be more right making calls of the market going up then it going down.
Well, it helps to follow the trend when making calls. Longs have just been working a lot better than shorts. I have been very shy to put on shorts since mid March. That will change soon.
I think you should just be a long trader. You sort of suck at getting short. I don't know maybe in a bear market you might be better.
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