Friday, January 11, 2013

New Highs Coming

The wall of worry remains, mainly earnings and the debt ceiling. Both will be bear duds. They have obvious outcomes and traders aren't going to fall for the same trick twice. This is a hedge fund ruled market, markets go straight up with few, and shallow pullbacks all the way to the top, flatline for a while, and then go straight down with no pullbacks. It is not like your old markets, its a new market with few retail and mostly institutions and black boxes at work. Trendy with sharp reversals.

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