I tend to agree GST,but I'm not short anything right now. I wanted to see the follow through from yesterday's rally before committing, and the rest of the market appears to be equally confused:
Goldman upgraded YHOO, UP we go, Wait, Bad employment numbers; down we go. Wait, that's already factored in, this is time to buy! Shares changed from weak to strong hands yesterday. Wait, EBAY's down. Margin calls, oh no. Wait, we'll rally at 3:00 after the bond market closes, Here we go up up up. Oh no, selling off again. Closing at the low. Maybe EBAY will be back up tonight. Maybe Barron's will come out positive on Amazon Sunday.
Facts are this:
DOT down again, 4th week in a row.
Rallies in the nets not sticking
IPO's now dismal
Bonds very weak; Long bond rate closed today at 22 month closin high
Bank index breaking through support
Merrill Lynch made low for the calendar year today |
