Don, I am encouraged by the futures tonight which are actually up!
cme.com
That being said valuations are and always will be an issue. How big an issue is always a relative thing.
zealllc.com
JNPR attempted a in a double top breakout and pulled back after delivering a good earnings report.
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
YHOO another stock that delivered a good earnings report is still breaking out higher.
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
JNPR may have pulled back but YHOO is going up. What do these two stocks have to do with each other? Maybe nothing but we cannot use JNPR as the only yardstick to measure the potential future reaction to upcoming earnings.
I think it is still too early to write off a complete breakout higher of the major indices this quarter but you can color me skeptical.
I would like to be a short seller at the next market top but the one coming up may only be a wave 3 top leading to yet another final wave higher after we get a correction in wave 4.
amateur-investors.com
Short selling any technology stock with actual earnings like JNPR is risky. But you cannot even short a stock without an uptick brought on by the bulls buying shares.
Stocks like JNPR fall when buyers stop buying and short sellers stop covering. Note here that the number of shares sold short on JNPR actually fell during the last month from 45 million to 41 million or a little more than 13.4% of the total shares currently sold short.
finance.yahoo.com
JNPR was rising as short sellers were bailing at prices higher than they would have liked.
In the market as a whole I personally I see the bulls getting more outspoken. I've even converted to the bullish camp but like Gottfried said in a recent post it's probably best to have no religion.
I have seen some similarities between the charts now and in March of 2000. I also see a huge amount of measurable bullish sentiment. This is dangerous to those who would be attempting bullish long term buy and hold strategies. Especially anyone who is using margin and apparently the numbers are rising.
Lets be careful everyone. Just remember it is all about making money. It does not matter who is long or short as long as you make money honestly. By that I mean doing it without spreading lies, rumors and innuendo.
There is nothing wrong with short selling in and of itself. It's trying to scare people out of their positions when they don't agree with your viewpoint that is wrong.
Way wrong.
RtS |
