Techs look so overbought it is tempting to short every one of them. QLGC is up 100%+ in a month, many others are in what appear to parabolic blow-off moves. II agree. 'm looking to short QLGC very soon...
Good job. You got out of that just in time. Although I am watching it to short it again. I closed mine a bit before yours. Today or tomorrow I'll short again.
Is today the day to put on swing shorts of the KLAC, QLGC, QCOM,SEBL and NVDA highfliers? What about the garbage rotting in GS,MWD and MER? I think we get one more swing up to flush all the early shorts out then a big overnight down gap to make it hard to get short. The Bank of England and European Central Bank both failed to cut rates today, raising the ghost of '87 as a possibility.
Jeff Cooper had a nice quote this morning. "They won't give the bulls a pullback and they have the bears in a headlock." Well, it looks like the bulls are getting a pullback. They don't seem too interested. Have they used up all their ammo or do they make a last stand this afternoon? Watch Tuesday's lows.
Today looks ominously similar to 8/23. Still, I have to think the bulls have enough juice to try SPX 925 at least once more.