Monday, December 28, 2009

Slow Upward Drift

No economic news today.  It has been a slow bleed for shorts in this market, as we get steady small gains day after day.  Today is the 6th straight gap up.  One of these days the opportunity will come.  Until then, I will wait.

5 comments:

Anonymous said...

What you think about the news on FRE and FNM. Does it signal the bottom in RE?

Anonymous said...

LONG AMFI @ 1.02

-OL DAWG

Market Owl said...

RE has lower to go. It has been artificially stabilized due to government intervention via MBS purchases and that tax credit. FNM and FRE news is more of the same crap. Just delays the inevitable.

Anonymous said...

Alright...

So when are you going to finally put your foot down and short this mutha dawg.

I'm starting to get anxious. I don't want to miss the perfect entry point, although it's a rare occurence when that happens.

What's your target.

Market Owl said...

1130 to 1135 on ES