Friday, September 24, 2010
Stealing Monday's Move
Traders have been so conditioned for a bullish Monday that they have front run this phenomena and bought today. I don't think you can expect a Mutual Fund Monday after such a huge move today. Today just proves that we're still not done with the upside, but the past 3 down days does show that the upside will be met with resistance. I am just sitting back and watching, amazed by the resilience of the bulls.
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4 comments:
10% gain, so far, in Sept. Confidence is beginning to swell.
You knew it would happen eventually. The market would spike higher before the economy. It seems to be now.
Nobody likes to "chase" but you could miss out completely.
IMO dips are bought and we trend higher into years end with new year highs.
"now is the time to buy" -overheard old ladies in the subway.
The time to buy was March '09 and several months after.
We may have a bearish Monday. SPX has a double top, and Brazil has a tweezer top.
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