Friday, December 31, 2010
Weakness
Looking for weakness throughout the day as fund managers lighten up on seasonality positions on the last day of the year. Who will be more aggressive today, those that want to add long exposure or those that want to reduce it? There are almost no shorts so they aren't a factor. I believe all those who wanted to get long for the year end rally are long already. I don't think there are too many out there who waited for the last day of the year to get long. So when longs need to liquidate, that usually leads to lower prices. Watch for big selling at the close today.
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