Monday, January 31, 2011
Egypt, Who Cares?
The market shrugged off Egypt today and everyone and their mom knows that we gap up on the 1st day of the month so we are closing strong. But really, if we gap up tomorrow and keep going higher, we're right around 1296 again. And it would really surprise me if we got back to that level after the beat down on Friday. But playing the bear side doesn't pay unless you top tick the rallies. Selling weakness is a fool's game in Bennie's ponzi scheme.
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3 comments:
i read some of your old posts. you ddin't call the may crash either.
If you think we're going to crash like May, then go short. You don't need my approval. There have been plenty of bears looking for a repeat of that May crash. Go join the party.
The flash crash was an electronic accident which no one anticipated. The Hindenburg never materialized. It was probably made by the Japanese, meaning it was reliable.
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