Boiling frog From Wikipedia, the free encyclopedia A submerged frog The boiling frog story is a widespread anecdote describing a frog slowly being boiled alive. The premise is that if a frog is placed in boiling water, it will jump out, but if it is placed in cold water that is slowly heated, it will not perceive the danger and will be cooked to death. The story is often used as a metaphor for the inability of people to react to important changes that occur gradually. According to contemporary biologists the premise of the story is not literally true; an actual frog submerged and gradually heated will jump out. the frog is the Longs here i guess.
SPY 89.77 midday Monday June 22nd. I am still not convinced the bears can penetrate... ...SPY 87 level any time soon.
An important factor that makes the bear case stronger short term is VIX. Today we had a major down move in all indexes with the bottoms falling out toward EOD. But VIX, while it did move higher, did not really scream: "Panic" IMO.
Shortie, you are becoming a very good trader, and your posts are among the few that i pay much attention too, because they are level headed. I generally agree with you. Overall i expect Most of July to be rather boring on crappy volume. But crappy volume also means easily pushed hither and yon. Today we are up in the am to annoy the too eager shorts and make the weak hands cover, but i expect a close back down toward the pivot. Anyway good trading to you, and keep up the interesting posts.