I wanted to sell a rally, but it never rallied... I think I might have blinked when it rallied... thank God I closed out my long positions and took that short NAZ...<g>
No, I have not seen anything as bearish as this since the 70's and what will aggravate the bearishness is that there is still so much complacency on the street... "Oh, it will come back, it always does." Well, you might as well be short in the meantime... Jerry, the debate is tonight, Europe could sell U.S. stocks while we sleep (what else is new)... we could open down and dirty tomorrow.....
Here, looks at today's stats...
moneynet.com
The U.S. Dollar is strong and the bonds are moving lower... I think foreign investors may be buying dollars and putting them into T Bills until the bath is over.....
I'm truly sorry for those who have long positions and I'm sure those stocks, enough of them, will rebound, but I think it will get a lot more ugly before it gets pretty.....
GZ |
