this is the exact reason im still short, we have had nothing bad horrible numbers come out, single housing still down, inflation high, retail sales down...there is nothing good coming out
Exactly. I see the inflation in gas, groceries, tax,... are you kidding me? Even Burger King's whopper 1 mea1 is up 20% in the last 2 years.
But what does that tell you about the market? That it is ignoring bad news. IMO when the market sells ignoring good news and buys ignoring bad news then that news is relatively unimportant compared to past news and future news. When I see a market ignoring news it gives me more conviction in direction, not less. At least you made a call and are sticking with it though. Just don't make too many.
Like ive said ive made two top calls, so if this fails its a good time to go long, even i might considering going long
I normally trade stocks in the scandinavian markets and only take position in the ES as a hedge overnight. But now im short ES @1330. A move up like the S&P500 has done since september (stdeviation -+2, low volume etc) must end in a volatility breakout and a big pullback!? I had to go back to 1995 to find a similar move..
update: got to the top of my zone and now has fallen 27 points. Gave back all of its gains from the past weeks. So far looks good