I think there is one idiot only, but unfortunately he is
in charge -g- There are a lot of smart people around.
The big GZ model does not have a sell signal yet. If
the market drops, it could arrive this week. If it does not,
a ST sell is more likely some time in the middle of next week.
This week is expiration week. Since markets are run by crooks,
I'd expect them to try close them higher into expiration, just
to make all April puts expire worthless. A lot of that, of
course, depends on liquidity. Usually at least temporary
liquidity is provided by the Fed during expiration week.
So, Bulldog's liquidity arguments, while they are right, may
have to be postponed for a week or so, until the temporary
liquidity injected this week expires. We'll see. Happy Easter! -g-
P.S. Tentative date for a sell is April, 18. Tentative price
for SP is 1454 cash. It may happen earlier, even this week,
if we move down from here and certain price levels are crossed.
GZ may disagree, since this is from cash SP data. So,
looks like we'll move up into expiration! |
