Hey Shaw. You wouldn't want know what my allocation is, except to know what not to do, and I don't want to think about it.
This remains, IMO, an extremely dangerous market in which to be long but that's what I am.
With everyone poised to sell into any rally, it seems hard to imagine much of a rally at all, let alone a sustained one.
Perhaps that's a good sign. ;o)
At times over the past few weeks, I've thought we might be about to rally as I sensed in the market a build-up of buying pressure. Then someone would drop another bomb on it.
With whatever Fed move we get this week, there may be a decent relief rally just because the world will know, for one day at least, what old fud-stick is doing. Better to know, than this uncertainty that I think he likes to perpetuate.
If a decent rally starts, and the market isn't blind-sided by something unexpected, I think we could recover some Nasdaq numbers relatively quickly. IMO, equilibrium on the Nasdaq should be at least somewhere above 2500.
So, I'll be continuing to look long, with caution.
Cush |
