The bulls, who came into 2010 thumping their chests are in need of diapers. Normally, I would be very comfortable relieving them of their positions after three nasty days in a row. However, the media has a bearish story for the weekend that is easily understood by the public. OBAMA WANTS TO KILL BIG BANKS.
The public has been on a buying orgy so they have some merchandise to sell. We could see that selling on Monday but that would make the odds of a rally on Tuesday extremely high. I am long, nervous and ready to add late Monday if necessary.
I actually thought I was going to have a peaceful weekend after covering my shorts yesterday. Some things never change. Have a great weekend.