Wednesday, August 4, 2010
No Pullbacks
Looks like a repeat of March 2010 with no pullbacks till we get to 1200. This market is not letting the shorts cover and the underinvested buy on dips. The dips are very shallow and snapped up quickly. We will probably squeeze higher and have a blowoff top on Friday after the nonfarm payrolls report. 1145 or SPX 1150 will be the likely targets as the de-risked hedge funds panic buy.
Subscribe to:
Post Comments (Atom)
Posts
2 comments:
How bout Thursday? Still short?
Yeah, I will look to cover Thursday. Don't want to be short going into nonfarm payrolls.
Post a Comment