A diary of the thought process behind my investment decisions
No Short Base
The biggest issue this market has is that I don't believe there is a large short base. On a day like today it is usually the shorts that get a rally started. On the positive side there are not many bulls either.
7 comments:
Anonymous
said...
There is a graph on bespokeinvestment showing the 20 largest global economies and their distance from the May lows...
China broke to new lows
us ... .16% away ftse .45 nikkie 1.3
global economies are collapsing. Even if ours doesnt the stock market will decline with the globals. The p/e for s&p is too high, overvalued...ect ect
7 comments:
There is a graph on bespokeinvestment showing the 20 largest global economies and their distance from the May lows...
China broke to new lows
us ... .16% away
ftse .45
nikkie 1.3
global economies are collapsing. Even if ours doesnt
the stock market will decline with the globals.
The p/e for s&p is too high, overvalued...ect ect
1050
the lowest the s&p has closed so far this year.
Lower lows people.
vix back above 30
I wonder if Europe will default on Thursday? Maybe next time the bills are due.
Ugly action. I think we break down again. Can't see bouncing off these levels with any gusto at this point.
We're gonna see severe oversold levels again and it will be catching a falling knife to buy them too quickly.
I've taken a small short position after mulling this over and seeing the action since the open.
http://www.thestreet.com/story/10794872/1/this-markets-just-too-high.html?kval=dontmiss
for all you fans out there.
10 year under 3% who's gonna buy our debt!!!!!
I support the blog author cos I am also shortterm long QQQQ calls as of this morning. QQQQ technically downed 9 days in a row including today ;)
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