Monday, October 24, 2011
Wednesday Non Event
Unless something very unexpected happens, such as Germany refusing to go with the plan, which is very unlikely, you will get a very brief sell on the news, it might last 1 or 2 hours. And then we'll be back to higher prices. The US is dragging the other world markets reluctantly higher. China is being dragged higher, Europe is now failing to make new highs while the ES keeps making higher highs. From now to Wednesday, I expect us to pullback to relieve the overbought condition. We have run too far too fast.
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8 comments:
I expect some time of distribution at these high levels, followed by selling of similar or greater magnitude like in July this year.
exactly when the crowd will be expecting year end rally. IMHO
I am expecting a big drop in November, the aftershocks of this big drop are not completely over. Even if this crisis was a fake one, we still have side effects from one big develeraging slowdown that started in 2008.
MO, we are going far higher before anything happens. This is a bull rally and unbelievers will be punished. They will not let people on board. The consolidation was the pullback. You have been saying for a while about a pullback but here we are 100 points later.
nobody talking about near everyday op twist POMO at 10am. operation twist started beginning of month. you al remember how that was like last year. that's when markets go dumb perma bid everyday.
When I start to see reamed in the @$$ bears now thinking they'd better get long with this rally that won't die, as I'm starting to see now, we should get a meaningful correction soon.
Amazing how all the macro events are timed so perfectly to so many sentiment and technical pivots.
markets don't rally like this in bull markets. they rally like this in bear markets. everythign is exagerated in bears. last may after flash, markets grinded higher not fly up like this.
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