Fred, why cover?? Of course many did cover though today.
Almost all of the last surprise rate cut retraced. And, all of the top 5 percentage gainer Nasdaq days retraced some the following day, no guarantees, but I'm staying short.
Is this a Peter Pan rally??
Why did we rally?? Other than being oversold.
Earnings aren't improving and the Nasdaq P/E keeps going higher.
Maybe we'll retrace and then go higher, I don't know, I'm just using gut instincts.
I'm reading, when the bounce top is in and the euphoria strong, it's to be sold into, wherever that is.
While many think the bottom is in, I think it's just another bear market rally.
But, this is just my opinion.
Soon, I'm going to take short positions for the duration, I've already missed too many, like COVD, NPNT, ETYS, etc.. |
