Monday, December 13, 2010

No Bear Catalyst

With China not raising interest rates, there is no obvious bearish catalyst to take this market lower.  I can only think of European worries coming around again, but that story has been played so many times already.  I'm sure the media will come up with some reason for the market going down after we top out.  I don't want to try to time the top so I'll just stay short here and wait for the market to get back to sustainable activity.  This level of optimism rarely lasts for long.


Petsamo said...

Well the Korean situation hasn't been resolved yet.

Anonymous said...

If the market doesn't drop, I am sure you'll come up with some reason why it didn't!

Anonymous said...

China's money markets went up 71 basis points last night. Looks like they're pricing in a rate hike (which could come out of nowhere)