Tuesday, July 27, 2010

Barton Biggs

He became bearish at the lows in July and has now turned bullish in a Bloomberg interview.  One has to wonder who gives this guy money to manage. 

In the short term, the McClellan oscillator and the cumulative tick say we are very overbought.  We are still in the middle of the migration from bears to bulls, so my short position is for the short term only. 

4 comments:

Anonymous said...

What happened to the fast money bar ?

Market Owl said...

Its gone.

Anonymous said...

Owl, do you see any strong support ?

Market Owl said...

1100 should be very strong support. It looks like funds are re-risking again.