Fight Another Day

I believe we will retest last week's low at some point in the next few weeks and possibly break it. However, it is possible that this oversold rally will go a little longer. Like a matador, I find it is better to allow the bull to get tired before fighting it. As such I will allow a for a few more days of rallying before considering getting aggressive on the short side. Have a good night.

3 comments:

Anonymous said...

I love that video and song by Madonna Take a Bow with the matador in it. Yeah and she was very hot back in those days too.

The new Take a Bow by Rihanna is gag city.

Anyways, yeah I can see the mkt going to 1130 spx at the most. Likely we'll see 1110 to 1115 tomorrow and I bet all those bagholders from that the week before last are gonna sell there making it a tough level to blow through. Might as well look to buy some bear etfs around there.

We are slowly getting into the short trade having better than 50/50 odds...

Anonymous said...

Damn, sophomore year, humping my hot gf every day in her little dorm room watching take a bow high on reefer. The good ol days..

Anonymous said...

This running analysis of our running market is interesting and necessary, but I prefer the calls when we see sentiment and over/undersold conditions line up near extremes. And I don't think we are there yet.

Friday's report can cause significant volatility and Mondays have not been a good day to be short. That said, the PNC issuance and their paying off TARP seems to be a short target worthy of consideration.