Thursday, June 14, 2012

No Shorting

The market is having a hard time going down.  It is a struggle to go down 1%.  It is acting like a beach ball in the ocean.  You can't keep it down.  This is the opposite of the action we saw in May.  The bears had their shot on Tuesday and Wedneday to take this thing down below 1300 and failed miserably.  I am getting more constructive and a down day today will encourage me to get long.  I am watching and waiting for the buy opportunity. 

2 comments:

Anonymous said...

Nice Obeservation! Traders are too bearish now which creates great buying opprotunity. When traders realize that things are not that bad...then it is too late.

Market Owl said...

Market is positioned too conservatively right now. It is a tinder box waiting to get lit. The global economy is falling apart, but there will be rallies along the way. We should continue this rally for a few more days.