"You know, it's a bull market!" - Partridge
This market made new highs overnight and we have another healthy gap up after a late day squeeze yesterday. There is a reason that people are bullish on stocks. It's because they keep going up. Eventually we will reach a point where the market will go back to a downtrend. It looks like that will be happening at much higher prices. I am still short term bearish but the dip will likely be swift and snapped up quickly. Today is rollover day so I will mention ES levels using the March contract.
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2 comments:
OWL,
I guess you are no longer as comfortable with your short position. The market may head south eventually, but that may be too late for some people.
I'm still comfortable with the short, actually more comfortable now than I was on Monday seeing today's action.
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