Hey Dale, the 'warning' was pretty funny, considering today's ramp-age.ggggg
Someone much smarter than I has pointed to the recent upping of accommodation by the Fed, to deflect the Argentina/Enron fallout, added on to all the rate cuts and the 200+ Billon pop in liquidity after 9/11; so we get liquidity on liquidity, and again, this is much like 1998 to me.
Today, the Feds hands were clean:
biz.yahoo.com
Now, that, at 9:36AM should have been the clearest Buy signal yet,ggg/ng
So much for the 3 DAY AJC effect, huh?
Well, I guess 1 out of 10 isn't bad.
My hedging of shorts has helped, some; I had left around some hedge calls, I bought cheap for Dec, after I had closed some shorts, and they are taking off. Dumb money,ggg.
I had convinced myself to go long this AM, and didn't do as much as I would have liked, just too bearish at heart, I guess.
Once Nas/RUT got passed 200 day MA's, money is rolling in, fundamentals are now officially irrelevant.
Good luck to all traders.
James |
