Wednesday, November 11, 2009
Still Too Early
This market needs to be given more room to go higher. Today's highs will likely be revisited soon, so I don't want to push it here and have gotten out of my short position. FMHR was 2 to 2. I am neutral on the close, so I will just watch, I don't expect any fireworks. There are some chinks in the bull's armor that are starting to show. We are starting to get a bit more intraday volatility, but volume is still too light for my taste. A good short set up should arrive within a few days, there is no rush to short.
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2 comments:
I hope you are wrong dawg and we go down now.
You're always with the trend. When we started going down after we hit 1100 last month you said we've seen the highs for the year.
Now that we beat the old high by a few points, now you think we're gonna go a little higher.
Come on man.
It doesn't feel right to be short just yet. When I see it, I will be short all in. I just don't see it yet. This market is resilient, it won't go down in a heap until we get high enough.
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