No change there yet. Gap up sell-off. de rigeur for distribution. However this bull is hard to break. I may have to wash these shorts but not yet. We'll give it more time.
There are a lot of other investment vehicles competing for those dollars today than just the U.S. equity markets - a LOT more than there were 20-30 years ago. Cash is king for now. Wait until 'Hedge Funds Gone Wild' comes out, and we see meltdown city, and liquidity contraction (a foreign concept for many new money managers) takes place. It's coming soon. Pure ugliness.
Top newsletters are bullish = market keeps going up << The bottom line? All nine of these top timers are bullish to at least some extent, and none is an outright bear. The average equity allocation among all nine is around 85%. I did a similar review for my Trading Strategies column last June, at which time the top long-term market timers were, on average, recommending an 81% average equity allocation. So the top timers are slightly more bullish today than they were a couple of months ago. That's good news, because the Dow Jones Industrial Average (DJI:^DJI - News) is nearly 2,000 points higher today than then.>> http://biz.yahoo.com/cbsm/070205/7a233080edf14aa89241693491dfc4f0.html?.v=1 By Mark Hulbert Commentary: What top newsletters are saying for February
With a Jewish Fed chairman and a Jewish treasury secretary the odds of a sufficient decline are slim, these guys control the money, their friends are on wall street, end of story, go market.
All thats going on now is relieving pressure on the overbought indicators, just think if we trade sideways all week then come next monday we get another 5% gap up on the Vix, shoot we will have plenty of room for the bulls to stretch their legs then.
Have you people never seen how tops and bottoms are formed, we have weeks of volatility, 100 point swings in the dow everyday for weeks. Once the pros are out of their old positions an in their new positions then we go.
Not anymore....yesterday I had a long term signal I use give me the first good indications to start "swinging" short. Also with the Naz at 40% greater volume than the Dow as of late that was another possible hint to start taking shots short (and GOOG getting owned helped me start taking shots as of yesterday).
Bought calls at OEX pivot S1 today. It didn't rise to my target goal of R1, but the market saviors at least took it back up to the pivot point by the end of the day. Small 4% profit today. Yesterday's call trade was much better. Volatility is drying up.