ES hasn't closed above 1317.50, since close of ES Mar06. And cash has been unable to hold above 1307. There has to be backing and filling. Looks like another head fake.
Now I have something in common with your shorts, we both get ignored when you don't like what you hear.
The run up this week (Apr06 expiration) is similar to the sell off that occurred on 2006/01/20 (Jan06 expiration). Since then, except for small caps, the market has gone sideways. I don't know how the market can rally with $74 oil. You can argue that the energy stocks in SPX will help, but from (Jan06) $70 oil, to now (Apr06) $74 oil, has seen SPX go sideways.
Hey Jackball, I was short this morning and I'm neither Bear nor Bull. But I am lucky, I nailed todays bottom like Ron Jeremy hitting Eartha Quakes bunghole. ...Rennick out
Yeah!! Same here... i was out by 10:15 this morning with +23 pts going short. (although i did feel Ron Jeremy poke up behind me this pm... but nothing serious... very minor.... )
or 650$ gold - supply, demand and Iran. the economy is like a car downshifting - it gets more power from the extra gear but the acceleration slows down until the engine can catch up. for the US economy, the engine has been in the new gear for a while and the acceleration in the markets is starting to catch up......
ok waited for all participants to answer, was my call wrong? 4/5 stocks I shorted are actually lower than they were on monday. The qqqq's are against me, but by a whole 1.6% my shorts are lower by 4%+. I short charts, not markets. I am still long gld, and gold stocks. What have I missed? When (not if) the mkt turns lower, I am ready, all 1 way players are not. Happy Trading!