Tuesday, December 21, 2010

Another Gap Up

There we go again with the overnight market stealing the RTH move.  Sentiment has been useless for the last couple of weeks.  As I said in a previous post, we haven't seen the inflows necessary to form a lasting top.  We need to see retail excitement that is reflected in more equity inflows from new investors, not just more bullish positioning among the institutions and current retail crowd.  Any 20-30 drops that you see in early January should be used to cover shorts or go long.  Looking to add shorts intraday in the first half of the day.

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