| I could have written that post <g>.......but, I do think eventually the market will head down, and will head down alot...I see far more reasons for that scenario developing then any kind of decent rally. What are the positives to move this market higher at this time?? I dont see many...there is some slightly positive good news on the economic front, but I still laugh when people say our economy is rapidly improving, as I still see far more negatives in the economy, then positives.....It may take earnings season to crash the market...who knows...but I suspect that most companies are going to disappoint...or I should say the street will be disappointed with most companies reports...It takes alot now to make the street happy, and I just dont think earnings have improved as much as anticipated a year ago and if we have a bla first qrtr, and the street isnt happy, then that could be what is needed to bring this market down hard.....Then again, all we have to do is break certain resistance levels and the selling/shorting will snowball and really bring us down hard and fast...on the flip side, I certainly am not buying right now, and if we do rally back above 2000, I still wont be buying/chasing stocks until I feel more comfortable with the economic/world events and have some kind of feeling that the market has some legs under it...I think alot of people are currently thinking this way, which could prevent any decent pop, as most folks are not sure which way this market is heading, so they are waiting for some form of direction, before making any moves......Plus, can't you just smell the shorts?? They are hovering..waiting for one more break in resistance and they are going to pile on hard...so, shorts are ready to pounce, longs are ready to sell, and in no hurry to buy...not a good equation for a rally upward.... |
