I agree that if we finish at highs today, short-term is bullish....seminal event, and market taking it like a champ...
Given I think market is overvalued, a huge rally into Christmas will just make the bear in me think its a better opporunity..certainly, we break that 1940 COMP resistence, and I'll be impressed...
Given the season, this may all be fund deployment and flow....I feel certain that the "powers that be" have tried their best to support the latest bottom, and if they are successful, they will only sell their longs to suckers at higher prices..same old game...of course, upgrades galore coming....I had to laugh at the $50 price target placed on AMAT this morn....
Having said all this, I am first and foremost agnostic about direction....if I make money, I'm happy, although big picture I'm a bear still...I may join you on a long if we take out COMP 1850 at the close and/or finish at today's highs.. |
