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"

Sunday, January 17, 2010

Outlook

In general I don't know what to say.


Sentiment is not optimistic, for simply being 130 pts off the high, it just changes so quickly. Using the actual indicators, the AAII etc... we are out of control, and yet we get the most minor pullback and everyone is calling top.

It just makes me cautious. It feels like bullshit hedging. As I go through my indicators, I just see top call after top call.

I guess it is possible with so many extremes a resulting high level of rain dancing would be expected.

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