Russell,
This market activity reminds of the market action the several days before the 10/8 bottom, where they kept jerking the market up to 1020 Dec. Futures, would rally it on globex every night, then sell it off during the day, then finally, they let it slide down to 930 on the 8th, but it stayed there for only minutes, before exploding up. What a mind f**k!!
Could we be looking at the same manipulative techniques in reverse, with 1155 the shake down number?
As i see it, we're left with 2 choices: We continue to slide from here, or we have that last gasp spike rally that kills all the premature bears. Right now, they seem to be just tempting the bears/shorts to dive in, and trying to kill the recalcitrant bulls, running them out of their long positions before the last spike up that puts in the top.
I'll continue to depend on 1150SPX as the crutch that allows this crippled bull to limp across the finish line. If it gives way, so do i!
Regards,
David |
