This time I am not falling for that hope(g)!! Not taking up any short positions, including EXPE here at 69.70 eventhough everything appears to be ready for a melt down. The action today has been most 'fishy' as far as I am concerned, and I will be comfortable only when we break 1292 decisively.
Actually, this little ramp today may have cleared the way for a nice, orderly descent to test and possibly exceed the Feb. lows on the COMP and NDX. Dow has already dropped below the Feb. 13th lows, and remember, we're one big happy family!
Watch the bonds. 10 30 yr holding there own as far. I tried to pry 107 out of Soloman on a health care facility muni bond priced at 108.5 but they wanted bigger spread. If that bond suddently drops to 100 , I will find stocks will be a lot higher. NAz may not being going anywhere fast but banks, cyclicals brokerages would go to dreamy land quickly assuming recovery around the corner again.
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