Mike M, no doubt the shortz are being hamburged and french fried, but as for sentiment on these threads, after this big run up, i find the great majority who are still trying to find a top of the bear market rally, or those who rode it up and have sold and are now trying to short.
tops come when nobody is looking for them or at least when the shorts have thrown in the towel and are no longer looking for a top, now we may be getting closer to that, but from todays action it doesn't look like we are there yet, it's hard to claim anything bearish about a gap up, close on a new rally high with outstanding breadth stats
quote.yahoo.com
the rydex #'s are giving a peek at this, during the drop from the 5000 top the bear market leveraged funds never got a bid, nobody wanted em during that whole gigantic slide until just a few days before the april 4th bottom, then the bulls went on a rampage and they forget those bear funds on viagra until mid to late august and those bear funds have been getting plenty of bids during this rally, and the spx viagra bear fund has been catching more money than the bull viagra fund most of the way up from the bottom, unheard of during bear market rallies from sept 00 to sept 01. |
