Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Monday, January 5, 2009

rotation again

So.... There is something I like about the market.

We have some sector rotation... I'm trying to get a handle on how it is all trading.

But it's positive that some things are going up, and some stuff down.

We all know how bearish I am on materials, so when I say it's the stupid stuff that has been going up... we know what I mean. But that is unfair... I could be wrong.


So, standard year end rally goes two days into the new year, So... Seasonaly there is a reason to sell...

So... I just suspect there is one more push higher.... Even though that "Dennis Kneal doing the robot... " just has to be a top.

But my thesis is we are just struggling with the 900spx resistance. even though it's set up like a bull trap.

Just to ramble, we have had a huge tendancy for mean reversion, so some form of back and fill seems correct....

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