One More Push

There is a lot of put buying once again today in the early going. I believe this argues for one more move higher to shake out all the new found bears. For clarification, I am not playing for this move higher as I believe we are too close to a correction to get cute. I might use the push higher to reduce my net long exposure if we get it.

4 comments:

Aaron Boone said...

CA finally listened to you!!

Tsachy Mishal said...

Better late than never

Anonymous said...

So you think this is that one more push? If so, do you think it last for a few days or maybe a one day capitulation?

Tsachy Mishal said...

We will be max intermediate term overbought at the end of the day on Monday. I would be willing to get pretty aggressive selling if we rally until then. That is the farthest I can see this going