Confounding

This market is confounding. There is no other way to describe it. Today's destruction makes as much sense as yesterday's ramp. The sidelines continue to be the best place to be until the market works off its overbought reading. Have a good night.

2 comments:

Anonymous said...

There is one other way to describe it... broken.

Great call on the bounce although it came very late. When it came though it was relentless.

Likewise the market is rolling over long before sentiment got too bullish. The market is definitely skewed to the downside in this regard, as you have noted.

I have taken the opportunity of this latest rally to get back up to a decent size short. 875 before 1175 with 90% confidence. The rest is just partial profit taking on sharp sell-offs and reloading on the massive short squeezes.

JD

Anonymous said...

I don't think some of the people get it.

You are living through history.
This is the longest recession EVER.

EVER.