The bulls have laid down the gauntlet here. It is the most annoying thing but I see how they tacked on 2.25 points from the cash close to the futures close just to punish those stock traders that don't want to hold overnight. Now we are at 1101.
It is time to look short, but don't be too eager. Many have ignored the fact that we have rallied 95 points in 3 weeks and could have possibly made a bottom. I have heard very few people mention that July low as a bottom. When I hear more talks about a summer rally and "attractive valuations", I will become more courageous on the short side.
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4 comments:
???
Don't you listen/watch any financial shows?
Everyone says we hit bottom several weeks ago,"the lows of the year".
And everyone tonight sees nothing but green arrows for the future. I'd say 9/10 people tonight are very bullish.
Financial shows: If the market is rising, the bull commentators are out. If the market is falling, the doom and gloomers have the spotlight.
How do we play the next few weeks. GDP should be a big market mover?
Guys, check out India's stock market (BSE Sensex). It's in a beautiful ascending wedge.
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