Its a levitation act, this stock market. It feels unnatural, almost unbelievable. Why is the stock market going up while the economy is still in a deep recession and has 10.2% unemployment? How can oil be at $80 in this scenario when 3 years ago, with a decent economy, oil was at $60? Its hard to believe, so that's why we've seen the low volume. The buyers are not plentiful, for sure. But there are just so few sellers. Shorts are very reluctant to get their heads bashed in again. Those who don't believe, either sold already or are waiting for that elusive 8-10% correction to buy. So the rally goes on, until it exhausts itself by going too high and succumbing to the forces of fundamentals. Today, we have a gap down and I will not be shorting yet, but we're very close to the highs. We are too overextended short-term to pierce them today, so I will short if we get close to new highs, for a scalp. No core positions being built today.
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3 comments:
Love these little pictures dawg.
They attribute it to the dollar carry risk trade. As long as the dollar is weak, investors put their money in risky assets like stocks, thereby inverse correlating the dollar to stocks.
Check out Revlon dawg. Setting up for a good short imo.
Still stuck with shitty banks, short the market, and a pumper RPRX.
Is the mkt closed tomorrow?
Bond market is closed tomorrow, but stock market is open unfortunately.
REV might be a good short if it goes up big for 1 more day. Right now, looks like it could go a bit higher before going lower.
Looks like another grind up bear meat day so far, but I don't think we're going to break new highs today. Maybe later this week.
Mkt is open tomorrow??
Really??
Shiet.. I don't work tomorrow.
Guess now I have to go to starbucks.
Gonna hit the one up in Hermosa Beach and check out some blonde beach bimbos
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