On that basis, you are absolutely right, and I actually thought the advantage would be expressed late in the day today, it did not. We also breached on the Dow and even on the Naz, the bounce was not particularly energetic, but more important, we have not reached real bottom internals, so even if the bulls have an advantage, i think it is a relatively short term advantage, 60/100 Naz points from the bottom, not a real reversal, yet. I would be gutsier here into the close if I had the flexibility to turn around tomorrow morning in case I was wrong, not being here tomorrow coupled with stops being activated forced me into a cash position of 64%, but I think that there is no "train leaving the station" situation here, so I'll stay with that for now. On a day like today, it is nice to see a core position (PII) printing new highs.
Zeev |
