Monday, November 15, 2010

Hot Potato

Buying stocks and commodities now is like playing hot potato.  Everyone is looking to rent, not buy.  Most traders are looking to dump on the greater fool.  With the complacency that we've built up over the past 2 months, we are vulnerable to deep pullbacks.  Today, I am looking for weakness off this gap up in the first hour and then we should stabilize.  But I won't be betting on any substantial bounces from here.  We've got a ways to go to get this market back on a more sustainable path. 

1 comment:

Petsamo said...

Retail sales look good but Empire State Mfg Survey looks aweful.