After a hot and humid weekend time to check in before its back to the work week. The SPUZ are down 2.5 points right now - so basically nothing - especially considering the 10 point ramp on the close friday. Lots of bullishness everywhere I look this weekend, the only things Larry Kudlow was missing friday evening were a mini skirt and pom poms. He was castigating some analyst for saying he was not a rip roaring bull...I like to see things like that - when people are most expecting the market to rally it most likely wont.
Im not ALWAYS a bear but the overbought levels in this market and the 50% move off the lows is fueling my pessimism.
We'll see what this week brings...one thing for sure is option expiration - I have a bunch of positions to roll. Cya in the AM
JB
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