Yes, Haim i see that bears are making the rounds in the media and people are buying a lot of puts.
in october 97 we bottomed on a big front page headline,, in april 98, we got the "married to the bull" mag cover, but didn't top until july, the whole period from mid august thru mid october there were a plethora of bear sightings on magazine covers and bearish headlines daily in the newspaper, on the weekend of the march sNp top a bull came out on the cover of a magazine, in october 99 the market bottomed on a big saturday front page headline, so sometimes these are good for sharp timing and sometimes they just get you in the area, the markets didn't react to much to tuesday's headline, so i'm taking this as a hint that this will be a longer protracted process, so far the rallies have hardly been worth playing and you had to have perfect timing and only day trade.
the market is demanding .75, i doubt the market will celebrate that much on .75 they are already expecting it, .5 would be a giant disapointment, do you think greenie will give em an upside surprise? |
