4rth, nothing is new with the shorts permanently thinking that any rally would be short lived. I am not sure if they have a majority here, maybe a majority of the posts, but not a majority of the posters (g). I remember that "sweating stones" comment as well (March 4th, intraday low 1789 high and close, 1859), the market then was already 100 Naz points from the then bottom of 1696 and continued to peak on March 11 at 1946, I would say, a little sweating might have been involved being short during those 100 Naz points. It sure did not continue to my target above 2000. But you got to admit, the day before that peak, on March 8th (closing 1929, high 1935, only 10 less than the intraday high the next Monday, and well above the close Monday the 11th of 1909), I went 62% cash (#reply-17174816). We indeed took that breather to 1830 by March 20th. As you know, the turnips reserve the right to be wrong, change their mind and change it often, at least they give ample warnings when they do change their mind, I went out today at 54%, meaning my faith in next week run above 1700 was shaken by today's action, shaken, but not broken (g).
Zeev |
