Never short a dull market. The shorts are getting grinded down bit by bit. It is painful to watch, even for those in cash. Nothing to do here. I should have kept at least a small long position but my overall bearish view on the market made me sell. We will probably have that bazooka by Draghi and I don't think it will be a sell the news reaction. In fact, it might be the beginning of the blowoff/euphoria phase of this rally.
I don't want to put out a price target for the top, but it should be sometime after the ECB meeting and before March opex. Probably around the FOMC meeting. In any case, not much to do. I will be taking a breather. Its a good time for a trading vacation.
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