Well, LT, I don't feel too good about thur and friday either (bad for the market; good for our puts).
As opposed to the usually bullish slant on CNBC, Pissani was constantly harping about the technical guys and the traders wanting to see a retest of the Tuesday bottom. And I think more and more of the bulls are waking up and smelling the coffee (or maybe getting margin calls.)
Notice all the US dollar bulls? Gold is just a commodity, dollar is super strong, blah, blah, blah. After folks wake up to the disappearing bull stock market, they will also realize too late the US dollar bull will die.
If we move down big time again, watch for a gradual rally into options expiration, then down again. Just my WAG.
Mike |
