Thursday, July 15, 2010

Building Shorts

I am putting back on my short exposure and will add throughout the day.  1098 has provided tremendous resistance.  It is clear now that the analysts have lowballed estimates and the low hurdles have been jumped over easily.  The last minute bulls will be piling in today and they might take us up to the 1100-1105 zone.  Or we could roll over right from the opening bell.  Either way, I see us going back to 1075 within 3 trading days. 

1 comment:

Petsamo said...

The Empire State Mfg survey is bad news, 5.08 actual versus 16 expected. The jobless claims gave good news, but the actual number of 429K is still bad.