There is no stopping this market. There are more bears to grind. More shorts to squeeze. We will go straight to 1370, consolidate for a few days, and go down to 1100 in a straight line. Being sarcastic here. We bottomed as I suspected last week, and now any pullbacks will be voraciously bought by underinvested bulls and bleeding shorts. I expect any pullback to last 2 days, 3 days max. I've delayed my short as I don't like the sentiment, its too bearish. We are going to 1250 by end of this month.
wow I'm speechless too. The shorts must be in a world of pain. It wants to devour them all. nom nom.
ReplyDeleteI think new highs on overall market might be a bit greedy but leader stocks like Apple for sure. The issue for broader market is the USD, I just don't see Euro and the likes of the AUD, CAD, Swissie etc having chance of making it back to highs. Definitely a lot of cash so this might go on til year end.
ReplyDeleteThere will be a pullback, I see it coming soon. Actually I am very tempted to short but realize that we're not likely to see weakness today so no point in rushing to short. Tomorrow or Friday. I am not buying into the no pullback straight up camp.
ReplyDeleteI think you are right MO, especially since we have had 7 days up, but jez how much more of this.
ReplyDeletehoney whats for dinner?
ReplyDeletegrilled bear with lemon sauce dear.
So still a whopper day down or a shallow pullback?
ReplyDeleteStill looking for a 40-50 point whopper of a down day. But since we're up so high, that would target 1150-1160 instead of 1130. My new target on the pullback is 1150 gap fill on the cash left on Friday's close.
ReplyDeleteWow! what else can you say. I started a small short position the other day. I'm already down 10% in it! Thank god It wasn't large.
ReplyDeleteI fully agree than any move lower will be bought hard.