The bulls have 9 lives. We are back near the year's highs only 3 days after the S&P downgrade scare. It can be sickening if you are a bear. The dips last for only a few hours and the market just lingers around the highs. I am still bearish on this market, but we cleared out a lot of weak hands from Thursday to Monday so we're not going to go down right away.
And ahead of the 3 day weekend close to a 52 week high, the bulls have the edge intraday.
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This mkt keeps going up on generally low volume... I don't think there is so many bulls just few long sellers and a lot of bruised short seller and bears. I see very few bullish bloggers out there... this mkt will deliver a crushing squeeze maybe 07' style... we like may a new high pull back late next week... but we will go higher... the sell on the end of QE2 crowd positioned way too early.
Oh and coming into 6th week post Japan earth quake get long that mkt but don't own the yen
Yeah, there aren't many bullish bloggers right now. It is amazing considering that we're right near the 52 week highs on ES, CL, GC, SI, etc. Lots of skeptics out there on the stock market.
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