Sloppy Bottom

I am not convinced that we are in a bear market yet.  But its so close to the end of the bull market that is it really worth it to try to play for the final up move before the trend turns bearish?  The US is fine, but the Asian markets are a total mess, especially Hang Seng and H-Shares.  They are barely a stone's throw away from the lows in September.  And Europe is weak despite being loved by the investment community.

We should bottom soon, and start a short term uptrend after all the sellers have vacated the premises pre-Xmas, but with oil stuck in this rut, you can't get any kind of meaningful up move that will stick long term.  I keep checking the retail flows into USO and UWTI to see if we are finally getting some selling but all they do is buy every day.  EVERY DAY.  The shares outstanding in both USO and UWTI are at all time highs.

This market is really doing a good job of wearing out the bulls, and the bears.  With options expiration forces pressing down on the market, and fund managers looking to hedge downside exposure after their December puts expire, you are getting some pain out there.  As I write this, after an auspicious start for curude oil, it is plunging again.  It is once again holding this market hostage.

There has to be a bottom somewhere near 2000, question is, do you step in now or wait for Monday?  Either way you gotta be a buyer, even though this thing looks so sickly.