Thursday, October 29, 2009

Booyah - Longs Get Paid

That sucked for shorts...

somehow everytime the market looks like it is going to really correct (closed below the 50 DMA yesterday) buying comes in - I mean everytime since March... i might even start thinking some of the conspiracy theorists are right!

once again after getting f'ing rocked on huge volume yesterday the buyers step in on minimal volume and shoot us back thru yesterday's starting prices.

i don't get the magnitude of this move. i thought we had a chance of bouncing up off of the GDP numbers today but 2% - are you kidding?

anyway, i would like to think getting short here or tomorrow at month end would be the thing to do if you are not short. that said, it may be better to just sit in cash if you don't like the volatility as shorts have been fighting an uphill battle and seem to still be.

the magnitude of this move is really what surprises me... even a 1% bounce I could see but this move has me a little confused.

still short, but confused. that's just the honest truth

If you want to truly understand the GDP report and not just the talking head perma-bull version click this link

No comments:

Post a Comment

None of my content is a recommendation to buy or sell any securities.

Please do your own research or consult an advisor before making any investments.