The Ball Is In The Bulls Court

  • The Europeans have reached an agreement to aid Greece, which should help debt markets.
  • The market is still oversold.
  • Sentiment  is skewed towards excess bearishness.
The bulls have had every excuse to rally and thus far have not been able to. I am going to give the bulls the benefit of the doubt for a couple more days but if they can't rally the troops by early next week I will hedge myself at a minimum.

Another positive for the bulls is the closing of the Burlington Northern deal tonight. There is a large cash component to the deal and some of that money might find its way into other stocks.

No comments: