Mike, they are rebuilding their accounts as we type. I can see anything for the Bears to hang their hat in the sentiment department. Line up the news, the facts, what do you get? The wash out of the dot.coms is over with, earning were spectacular, stocks have put in bases and moved of off them, we have a fed that is getting aggressive. What we we have to watch out for now is the FED over doing it. A few days ago, we rallied into bad news, I didn't have to look at charts to know that was a tell, today we have one of the best bottom fisher in the world throwing billions at the market. I could care less what soro's is up to. He has been playing games not watching the ship, what more do you need to see that was true then to see him sell out at the bottom, so he felt he needed to start a new, so he is starting with cash, good for him too bad he sucks as a timer. Today we are getting another indication that we have seen the low for the year. Not selling on the news of a rate increase after rallying into it. For the bears it's back to making individual stock bets (micro), the days of macro bets have passed.
Greg |
