Given the resilience of the Russell 2K there is no doubt in my mind that we are heading higher tomorrow. If your are short you should cover and go long ahead of Fridays number, and then add more on the dip. If you don't you will have a very miserable weekend!
I almost covered some shorts today, but a dead cat bounce in a few 4 latter names, made me wait. spooz and dow looking real tired here.. I'm short a bunch of russell names and they went lower again. Tommorrow will be a pretty important day...When joe six pack buys the open, lets see some meaningfull follow thru, if we get it, I will take profits, If not I dbl up on my shorts. I am not full scale bearish yet, but if we don't close up huge manana, I will be putting out some big time shorts.. OK come get me
grimey, the sp just rocked 1320. we will see 1330 by month end - i made that call a week ago and am sticking by it.
I am not predicting it but I would not be surprised to see it there by monday -and i'm talking about the cash index. BUY, BUY, BUY!
If you even bothered to read my last statement before telling me where the s&p is, If we close up big time today, I will cover my shorts. Even with the price action of the last couple of days, my shorts are still up, although I am giving back some gains in CNXS (up 14% today, ouch)..My longs are doing just fine, and I don't play the buying and selling the spoo game. I don't think the market will make new highs, but I could be wrong, either way I will probably do more watching than trading. I have had a solid year already, and will be playing more golf than trading.. Happy trading.
With today's gap up and run day, I think we still have room to go this afternoon with not much of a dip expected.