Never short a dull market. The shorts are getting grinded down bit by bit. It is painful to watch, even for those in cash. Nothing to do here. I should have kept at least a small long position but my overall bearish view on the market made me sell. We will probably have that bazooka by Draghi and I don't think it will be a sell the news reaction. In fact, it might be the beginning of the blowoff/euphoria phase of this rally.
I don't want to put out a price target for the top, but it should be sometime after the ECB meeting and before March opex. Probably around the FOMC meeting. In any case, not much to do. I will be taking a breather. Its a good time for a trading vacation.
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The information contained on this website and from any communication related to the author's blog is for informational purposes only. The analysis and commentary do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading or investment strategy. The materials on this website do not constitute an offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.
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