Awrite, awrite, awrite.
There's too many people expecting the obvious, or what seems to be the obvious: the election is resolved, Bushwacked wins, Bore whines but loses, and the market rallies. Right?
Too simple. I say the market tanks, because too many people expect the above. Besides, I think a resolution of the election is already priced into the market.
Buy on the rumor (Wednesday), sell on the news (stay tuned.......Monday very likely).
But here's an alternative viewpoint, and very impressive indeed:
Message 14877700
Me, I hope I'm wrong, and the market rallies. That way, the stocks I'm watching for short opportunities should set up very nicely for an entry. Right now, they are all oversold, but still have a lot of downside just the same.
I've said it before, and I'll say it here: we won't see the beginning of a real market uptrend (as opposed to a head-fake countertend rally/correction) until despair and capitulation is widespread. That point doesn't appear close, though things could change in a hurry. Investor sentiment is still way too bullish, the put/calls way too low, all the market internals heading the right way, but they've still got a ways to go.
End of the year rally? Likely. True bottom and reversal? Next year sometime.
Till then, I'm sniffin' out short positions.
Just my $0.01 worth, of course................
WS |
