.... I was feeling some good Bull Orgazmic Mania... which, as a contrarian ,Makes me think there was a top on friday.....
Only I've been dong some reading, and still bears tend to be still milling around, With all the bears it's tough to be a Short Meal..... Better to be long... We need to run out of buyers, and sellers for us to "Top"... and though I'll eat these words... I just don't think we are there yet...
But I continue to talk my book... seems like the only good shorts are Commodities....
Sunday, May 4, 2008
Bear Capitulation
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3 comments:
The market is sketchy right now, but leaning more towards positive. Staying long for now.
This is a sentiment driven bear market rally. As TK says on Trading with TK, it doesn't matter why the market is going up, just play the technicals.
A case could be made that some stocks are fundamentally sound, but I think in the more macro view the market has another leg down. But for now, why would anyone doubt the positive sentiment driven rally?
As with most things in the market, the buyers will overbuy and create a short opportunity-- but I don't see it yet.
Tony
*nods*... and still way too much Bearishness.
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