Why be a bear? Because there are no buyers at this market (aside
from the PPT), market is rising because short seller are compelled
to cover their shorts and buy, not because there are genuine buyers
at these elevated levels. Any removal of support leaves at least
1.5% drop on the indexes, that happens regularly. I will not sleep
soundly with longs here, be they from set ups or otherwise. I am
staying in cash now, waiting for the last known resistance to be
overcome. Oblivion is blissful but expensive in the long run, risks
are to the downside. Good luck!
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Why be a bear? Because
GS and GOOG ripping ......
Posted by junkie on 4th of Mar 2010 at 05:41 pm
Why be a bear? Because there are no buyers at this market (aside from the PPT), market is rising because short seller are compelled to cover their shorts and buy, not because there are genuine buyers at these elevated levels. Any removal of support leaves at least 1.5% drop on the indexes, that happens regularly. I will not sleep soundly with longs here, be they from set ups or otherwise. I am staying in cash now, waiting for the last known resistance to be overcome. Oblivion is blissful but expensive in the long run, risks are to the downside. Good luck!