Syl, in case you've missed one of the many posts Zeev has so patiently iterated (and Augie reiterated), the scenario has 3-parts, and we're in the middle of part II.
You're bullish, and I'm happy for you. However, don't mislead us into thinking you're doing anything but intra-day scalps like you normally do. The bullish bias just means you're buying instead of shorting stocks right now, which is fine.
If you've had a chance to glance at some charts, you'll notice a surprising parallel to last August on many, as well as a potential H&S breaking on the Dow. The fact that the MM's have all but given up on the Dow June futures also paints a bleak picture for this month.
Hey, we were at COMP 2100 on August 2, 2001. 6-weeks later we gave back 1/3 of that.
If you want another clue, look at April 29-May 7, as that will give you a good blueprint of what we're in the process of right now.
I don't know what else to say, other than don't believe all that rosy crap you keep reading about. The economy isn't all rainbows, puppies, unicorns, and daisies. I'm out in the real world, and it ain't that pretty. |
