Friday, December 10, 2010

Blowing Off

We have entered the blowoff phase of this rally.  There is urgency among fund managers to get long ahead of the year end rally.  I want to see more volume to speed up the process but usually you don't get it in December.  I am sure China will not raise interest rates this weekend and that will probably be greeted with cheers among the Globex crowd.  If we get that last little run up in premarket Monday, I will put another leg into the short side. 


Anonymous said...

So, are you putting the other leg in short?

Market Owl said...

I have added short and expect the top today.