The thing about financial journalism is that you don't need proof to state your case. All kinds of beliefs are passed around like they are fact. Window dressing is one of those things which is hard to prove or disprove so the conspiracy nuts have a field day with an easy excuse to explain stock movements they can't understand. Such as yesterday's strength being funds painting the tape and marking up stocks. Then why are we gapping up so much in the pre market? And how does window dressing address the seasonal tendency for weakness at the end of March but super strength in the beginning of April? I thought most window dressing was to bid stocks up, not down. I saw true tape painting in a few small cap stocks back in the day, in 2000 and 2001, but over the years, the phenomena has disappeared along with the fervor for stocks.
This is just a bull market, and we had our little pullback, and we're heading higher. I am not long because I don't think we'll get much above 1330, and do believe we have another date with 1250 in about 4-6 weeks time. But I don't want to get ahead of myself. I'll let the bulls roam for a few more days. I will start to look for a short entry next week sometime, hopefully between 1335-1340.
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