Thursday, October 29, 2009
Sharp rally
This was the oversold bounce, and quite a vigorous bounce. A classic bear market bounce which is sharp and swift. Bulls are jumping the gun again on the long side, you have your end of month anticipatory buying today along with buyers of "good" news. I am looking for selling tomorrow in the morning. I don't have a strong opinion about it gapping up or down. I will stay short.
Subscribe to:
Post Comments (Atom)
Posts
1 comment:
definately agree with you, tommorow pop and then drop. if no drop at all by the end of day, i am closing most of my unhedged short positions. the bulls are fearfull and could run it a higher...
Post a Comment