Everyone knows to be long ahead of earnings. Its the tried and tested method of making money, right? The crowd has now been conditioned to buy ahead of earnings reports that beat ridiculously low expectations. Will it happen again that we squeeze higher during earnings season to new highs? By the call option volume relative to puts, it would seem most are thinking that way. Its a dangerous time to be a long investor.
INTC could just be the catalyst for the blowoff top which marks the top for this rally.
Tuesday, October 13, 2009
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