Justa's Dive Bar

[chainik]

No strong opinion. I sold today, but not much.

The timing of a rally is suspect (end of month + Fed), so there is a decent chance that the gains will be given back at the beginning of February.

I'll buy back SPX 800-850 and sell gradually if we go higher. Would be nice to see QLD>30.

Total P/C, insiders, OEX P/C, AMG flows all look bearish.

On another hand, IMO the folks around are also somewhat bearish, so a further move higher will be a surprise for them.

Watch Jerry: as soon as he turns bullish, sell :) For now, it's just about punishing momentum traders.

Nice one from Grantham:
http://www.investorazzi.com/2009/01/23/investor-letters-jeremy-grantham-2/