The dollar continues to be a major factor. Market weakness to continue driven by stronger dollar relative to weakening Euro. This should also serve to keep commodities in check. Until that picture changes, possibly by Fall, the market will have trouble sustaining headway. This assumes a large meteor does not hit Disneyland, the Israelis don't nuke anyone, BP's relief well does not suffer an un-contained blowout, that Lloyd Blankfein is not fired and replaced by Sarah Palin, the US does not decide to democratize North Koreans by bombing them, etc.
All Quiet on the Western Front a. Afternoon short squeeze b. EOD short squeeze c. Afternoon dump d. EOD dump have seen many of those recently
midday: HAL +10%, BP +2%, MT +3% the amount of money practically lying out there is incredible. all one needs is some buying power and willingness to take on a bit of risk.
Do you guys remember the days when Bear collapsed? I feel like Greece was Bear this time around (without the actual collapse - yet). Right after that, volatility began going through the roof. Big up days, followed by big down days, followed by big up days, etc. Then the collapse. It really feels like summer of '08 again. I won't be taking any more long positions until the air clears (if ever). I'll continue to take small short positions after each big up day, with tight stops. If we clear the air and begin to churn higher every day like the April 09 - Jan 10 period, then I'll go back in. But not until.
The machines ran it up at the end - notice the volume, considerably less than average. Low volume = higher price. HAL9000 on the case.
Mostly agree except I will also go in when there is bargains. We may not get the nice churn when the dust settles, but agree on the low volume spike ups.