Looks like we're still too high. Thought we might get a temporary bottom but horrible price action on that ISM number. An on consensus number when everyone expected a bomb should have popped us 10 but instead we pop 3 points and then go right back down.
The market needs to find fair value, but with all the bottom pickers out there, it takes longer than it should. We haven't had a down 2% day yet this year. Still too much complacency, even a bear like me expecting QE3 soon.
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