Reading the news over the weekend, mostly about stocks. And the general belief is that we've gone too high without a correction, and the market needs a breather. A pullback would be "healthy". That is another way of saying that the pundits have reduced positions and are hoping for a pullback to get longer!
Most of the pundits say a 5-7% correction would be healthy, down to about 1220-1230 on the S&P. The VIX shot up too much last week for such a meager selloff. It tells me traders are more nervous than the surveys say. I don't think the correction will come now or from these levels.
Monday, January 24, 2011
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3 comments:
Sold LPHI @ 12.92, long from 11.85 (+9%)
OL DAWG
Sold BRN @ 6.34 from cubicle, long from 5.46 (+16%)
Ol DAWG
what about gene Ol DAWG?
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