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"

Saturday, December 12, 2009

Where are We?

I've been trying to have" a think "on the market, It's hard not to agree that we are "In the Middle". Tony pointed out, Volume sucks, especially on the buy side. But as long as the market can keep gaping up. To give the bulls their due, they have managed to defend lower resistance, It's either that or that those who ran in for the Uptrend day, just puked them up back to the Open price.

The only Real Bearish thing is the Sentiment, EVERYBODY Is on this Year end Rally. Sure there is a historic Light Volume rally, and tax losses being taken..... etc but the low volume doesn't happen for another week.
Tony says he is confused, I think I'm confused... either that or that I/We are confused is Bearish... I will just say that that seems bearish to me and sentiment wise we are ready for another leg down.
A failed high here abouts would be significant. What that may require is that the sellers from higher levels may have to come down to meet the market.
The other half glass is that when I look at the chart, of the daily spx, What it needs is a Trade of last resort at this 50% replacement.

In other news... Seriously, I'm thinking through another site and working on the monetization thing. This morning "To Kill a Mockingbird" is on, what a great book Atticus Finch should be every ones father.

Here is the book, Just a note, I like to point out good signs for humanity, and its #1847 at Amazon.

And the DVD from 1962 is #581

WOW! I forgot that Boo Radley was played by Robert Duvall... No wonder we have loved Robert Duvall for so many years.

No comments:

New Economic Indicators and Releases

What does Blue Horse shoe love?- Blog search of "BHL"