If you sit and listen to financial radio, or watch the talking heads on TV, when the market has a down day, they all say we are headed lower and you should be taking profits. When the market goes higher they all pound the table saying the market is going to explode. What would be fun is to tape their shows and play them back the next day instead of watching/listening the live shows for that day. They might get it right.
We are in a trading range and nothing else and you have to play it that way. Like the Stooges, you have to Zig when they Zag and you have to Zag when they Zig. It is hard to stay disciplined and do it but that is how the market is being run.
Today should be an opportunity to sell into strength. when we get back down to 895, an opportunity to cover shorts or buy into weekness. This will continue until we get seriously into earnings season and that will dictate which direction we go.
Collapse w/in 3 years
ReplyDeletehttp://www.nakedcapitalism.com/2009/06/guest-post-collapse-of-non-backstopped.html