S&P just put in other short term bottom on May 11

indeed, the lows are in folks. Go long and take a summer vacation. I see no reason to even watch the market. Just know that when you return it will increase at the same rate as the money supply. Quite simple actually.

 

now some of the bulls can come after me for covering my shorts on the last big up day!

 

Well said. How can someone claim we are oversold after one down day? In fact, according to my stochastics, we are still indeed overbought! Still much more room on the downside. Maybe the s&P won't go as low as say the dow, but I believe it will break 1300

 

yes, I think we have to have a 1300 test on futures

 

man in essence the spoos have gone nowere in months, just up and down up and down. but's whats really incredible is the huge amount of mass speculation in anything from infrastructure to metals to oils. it's quite amazing to watch the intc's dells msfts go down daily and see ba and cat rise daily. and the wild action in anthing from rti tie to pd is jsut breathtaking. i think by july we have a sharp correction but the market won't die completely till the publics convinced earnings will turn down

 

interesting, if you look at the chart we had another candle a while back like yesterdays.

 

You know if you had not covered, the market would have probably continued to rally even more.

 

In the last 2 years where have the spoos went ?

 

Really?? How bout doing something really monumental, that is acknowledging how bad your latest call is.

 

Certain participants need to buy stock before the close. The order flow will be substantial and the resulting psychology will put in place a signifcant bottom today. That is why the PROs have been buying stock on weakness.

Only the PROs understand this dynamic.