Good morning, everyone. Not to dwell on my personal habits, but while I normally am up and about by 5 a.m., and sometimes much earlier, today for some reason I got up at 6:10 a.m., which is Shameless Bum level for me. As such, I’m going to keep this post very brief.
In the face of yesterday’s vicious rally, I did wimp out to some degree, easing back from 34 to 28 positions. I will note, however, I noticed some of you did a full 180 degree flip, dumping all shorts and going completely long. So at least I’ve got that going for me, as Carl from Caddyshack might say, because a large portion of yesterday’s rally has been blown to smithereens.
![](https://slopeofhope.com/wp-content/uploads/2022/09/nancy-640x370.png)
I am not utterly eschewing yesterday’s caution, however, because bulls are a treacherous, indecent lot, and you can never trust them. They could, for example, hammer out a pattern like the one below. We’re going to need to take out that green line to place the baton more firmly back into bearish paws.
![](https://slopeofhope.com/wp-content/uploads/2022/09/bullbase-640x370.png)
Anyway, I’ll obviously write more later, but have a good morning, everyone.