Monday, April 26, 2010

Running Out of Gas

This market looks like it exhausted itself coming back from Goldman and Greece news the past 1 1/2 weeks.  There was a lot of firepower used to bring this market back from 1180 to 1216, and all the conditioned Monday buyers this morning are staring at losses.   All the speculation I see in the regional banks tell me that the speculators have no fear.  I will be looking to find a spot to get short sometime this week.  Longs are poor risk reward at this point.

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