Its funny how 2 people can view things entirely different. I see quite a few bulls on the cyberthreads I hang out on, and what more I see alot of battered bears who got caught by surprise by the powerfull move yesterday and are now licking wounds and wont be in any rush to jump back on unless we get a clear 'run for the hills' type scenario. I also see complacency by the bulls who figure any dip will be supported and earnings will be fantastic. Heck- turn on bloomberg when they have the guest hours at pre market and again at 3pm.. I stopped listening because there simply isnt anyone bearish which is absolutely silly..
Understand that I am at nearly 100% cash right now given some changes in my career/life and had to pretty much sideline myself for the week so I honestly could give a darn where this market goes until next week.. but I honestly think we could be setting up for a very big pullback here to wash out some of the excess..
All just rambling guesswork of course.. but keep in mind that if your scenario plays out and shorts jump on hard on any downtrend? Be carefull because most shorts are professional market participants who have deep pockets, and its going to be difficult to stop that momentum if they start getting aggressive... but I think more worrisome would be if alot of short support was taken out and that could lead to some sharp drops with no bidders..
Tomorrow- 8:30am should give us a better picture..
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