Today was a good day. But, honestly, I have nothing more to add at this point unless tomorrow is also a good (i.e. down) day. Because if this is the umpteenth "one hit wonder" (and a small one at that), you know nothing's changed – – – the market will just keep pushing higher until it doesn't. If we manage to get another day similar to this one, then we've got something interesting to talk about.
I went through hundreds and hundreds of charts, and although there are a handful of very good-looking bullish charts (which I have bought), there is something like a 30-to-1 ratio of bearish looking opportunities to bullish looking opportunities. Thus I find it difficult, understandably, to run around going long the market at these levels.
I would encourage you to check out the symbols from my last post. There are a lot of really great looking shorts in there, in my opinion.
Good night!
