Well, things are still pretty damned grim for the bears. Even though the morning started off looking like we’d get a break, with the ES down 9 at the time, both crude oil and the small caps have hoisted everyone back into the green.
One notable exception is a stock I highlighted a few days ago for those considering buying put options – – Amazon (alongside this was Baidu). Both of these have stayed obediently beneath their resistance zones, and AMZN in particular is having a nice little tumble, even on a green-everywhere-else day like this one.
In any case, the market continues to be very disappointing for the bears (and I’m not even sure if I should be using the plural anymore; I’m probably the only one left) until all the excitement about forthcoming central bank intervention is past us. I remain annoyed.
