Are you trying to figure out why the stock market jumped the way it did today? Was there an expectation of stronger economy, higher yield, problems in Euroland solved or Obama managed to create employment for everyone in America? Only worthwhile news I can think of is that Italy was downgraded last night. But look no further, we are here:
And that is why the bounce.
I did call for a bounce yesterday and said that it will be an opportunity to short at a higher level.
I expect Monday to be small range bound may be tiny red and Tuesday another jump up. Then hopefully game over.
You may ask why did I go short before? For one, we can never exactly time the market. And secondly, that is why we are only half invested and going short in stages.
I took off the most volatile part yesterday and am happy to keep the rest in.
Amongst all the noise and euphoria, Apple was definitely weak today with a jump of only 1%.
By the way, do you remember that bear market correction starts on good news, not on bad news. So by next Tuesday, you will see all the talking heads saying how nice and blue the sky is!
The above tape will be played out in the next few days and I can hardly wait with all the excitement.
Before we go for the weekend party, I have this write up on the investment philosophy by George Soros:
http://www.marketfolly.com/2012/07/george-soros-best-investment-advice.html
Take your time to read it.
So have a great weekend folks. Rest the brain. We will need it functioning well next week.
I did call for a bounce yesterday and said that it will be an opportunity to short at a higher level.
I expect Monday to be small range bound may be tiny red and Tuesday another jump up. Then hopefully game over.
You may ask why did I go short before? For one, we can never exactly time the market. And secondly, that is why we are only half invested and going short in stages.
I took off the most volatile part yesterday and am happy to keep the rest in.
Amongst all the noise and euphoria, Apple was definitely weak today with a jump of only 1%.
By the way, do you remember that bear market correction starts on good news, not on bad news. So by next Tuesday, you will see all the talking heads saying how nice and blue the sky is!
The above tape will be played out in the next few days and I can hardly wait with all the excitement.
Before we go for the weekend party, I have this write up on the investment philosophy by George Soros:
http://www.marketfolly.com/2012/07/george-soros-best-investment-advice.html
Take your time to read it.
So have a great weekend folks. Rest the brain. We will need it functioning well next week.
