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Re: None

Wednesday, 03/14/2012 10:48:58 AM

Wednesday, March 14, 2012 10:48:58 AM

Post# of 8321
Last time, I said that the technicals were a bit overbought, but while we could correct, it was just unlikely to get any traction. I'll say. I was looking for a top late and then down a bit on today, and then higher on Thursday and Friday. I'm thinking that pullbacks in here are just not to be bet upon, yet. I fear that we have a real capitulation rally coming still--yesterday was not believed by enough people. You don't want to be short for that and the end of quarter alone will bring buying from under exposed advisors, as we've been discussing. Now, all that said, sometime in the next week, we're going to get a tradable pullback (almost assuredly). The MACD has issued a "Best Fade" Sell. That's very reliable. I'm just not going to step in front of this freight train just yet.


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