The equity markets were green right from the get-go when the Globex re-opened on Sunday, and they got stronger all through the night. And in spite of the fact that the ES has absolutely broken its uptrend from 2009………
……what scares the {insert bodily fluid and/or solid here} out of me is just how much the ES could go up within the confines of a downtrend.
On top of this, of course, is the Potential For Good (that is, BAD) News from G20 next weekend. I say again that the prospect of a truly meaningful breakthrough out of the clear blue sky seems very remote to me, but the bears have had a great time of it so far this quarter, and the bulls are pissed as hell. I suspect I’m going to continue to stay relatively cautious until next Monday. I further suspect I’ll be furious with myself in a week for not being bolder, but to be honest I’m far more interested in protecting my profits from the weakness the last seven weeks than I am being some kind of hero.
