We should see some significant selling soon, either starting
later this week or early next week. I think this will be the
correction Chip was waiting for, perhaps, going into
some mini-panic in October. I'm just not sure how high this
market flies, and you have to give the bull some slack, coz...
the selling may, too, be shallow, no matter what I think.
If we do crash up, then it could be more significant, but
from higher levels.
Which is why... I'm just trading from the long side these
days. The short side does not last long. I'm quite
cautious at this point. <g>
Even gold hates early October through November. It loves
September.
Staring at Spoos today, we broke above the upside channel,
so we are in an upside crash mode now. Who knowz where
it endz, but I bet it should end by Monday or on Monday,
coz it's on expiration week.
Caution to da bearz: this upside crash is dangerous not just
for da bullz. It may run quite quickly and quite a bit
higher, but it will result in a sharp reversal. Maybe
even tomorrow. Maybe Friday. No later than Monday. IMHO. |
