Well, well, everyone has turned bullish again based on these cooked GDP numbers. That leaves me but one choice, and that is to fade the enthusiasm off this GDP number that has formed.
Bulls actually should want a gap down to wash out the sellers, this will just delay the selloff by a few hours and prevent the needed negativity that forms hard bottoms. Optimism reigns again for the moment anyway.
I am dancing between the raindrops, cause I know the bulls will try one hard rally today, but I think it will be in the 2nd half of the day, not off the open. I'm feeding the ducks here.
Thursday, October 29, 2009
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