Friday, November 11, 2011

Toothless Bears

Another gap up and Europe is surging higher.  I wouldn't fade this gap up, it looks like the bears have gotten run over again by the bulls.  They might have another chance next week, but for now, I would not play either long or short.
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6 comments:

Anonymous said...

Today was just your typical low vol holiday ramp job. The good thing about these fake rallies is complacency appears to be back, just like November 8th.

11/11/2011 05:47:00 PM
Anonymous said...

BTFD

11/13/2011 08:17:00 PM
Anonymous said...

Seems like everyone believes we are heading towards a year end rally. I'm hearing more and more estimates ABOVE 1300. As high as 1350 by year end!!

A little too bullish. Lots of headwinds still in effect.
The next is the failure to meet the deadline with the super committee. Another debt downgrade? Very possible.

11/14/2011 05:49:00 PM
Anonymous said...

Really? The blogs and twitter seem more bearish on average.

11/14/2011 07:30:00 PM
Anonymous said...

I agree. There seems to be still too many Bears out there, and thus still a lot of Bear juice to squeeze for the pros.

11/14/2011 09:02:00 PM
Anonymous said...

Everyone is scared people are too bearish and therefore not actually positioned bearishly. Ask yourself the simple question does it feel more right to be bearish or bullish? Then place your bets.

11/15/2011 05:50:00 AM

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