Tuesday, February 9, 2010
Not If But When
This market is surprising us with another monster gap up coming out of nowhere, mainly due to expectations of a Greece bailout. That is what is soothing markets today. Is it buy the rumor, sell the news? I don't even think traders are patient enough to wait for the news, they will likely jet on their long positions as soon as they get a little profit. Until we get a big washout, I don't think we'll have any sustained strength. Markets that don't bounce back quickly from oversold conditions are weak markets. Today, I expect us to falter from this gap up, so I remain bearish, and will hang on tight till I see the white of their eyes.
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2 comments:
Long more JTX @ 2.11
OL DAWG
Sold 1/2 MED @ 17.81
OL DAWG
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