So the SPUZ rejected nicely from 1011 and sloooooooooooowly worked there way down to 1002.5 where surprise surprise the "buyers" stood up and in 10 minutes ran em back to 1007.5 , who was the buyer this time? All this artificial buying guarantees one thing only - when they are finally done placing all of these seconday issues and the market can perhaps trade freely there should be a swift painful drop where these snapback rallys are non existent, this bullish of a tone for as long as we have had it when done will leave nothing but sellers.
The REITS are,regardless of this little pop in the spuz, trading up ever so slightly and many are down. AAPL continues its meteoric ascent, its getting just a bit silly, OIL is up a tad, natgas is not.
If the SPUZ do a last hour ramp Im gonna pull my hair out - the shorts are being hunted and I fear they are almost all extinct - remember it was just a few short months ago where we wondered if our accounts at BAC and JPM were safe - and now we dont even allow two down days in a row for stocks.
Sorry for being a broken record
JB
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment