Thursday, August 2, 2012

Not Even A Water Bomb.

This is going to be my shorted post ever, so far.
Leave aside bazooka! “Believe me Mario” did not even present a water bomb. And the market dived as I expected. I am sure many were tempted to short it and possibly many did. But the monkeys did cover 12 points back to the close. But the selling is not over yet and we may see some more selling tomorrow to bring in more bears. But I expect the market to rip back to 1380 level +/- few points before the real selling starts. So I will be waiting for next week to unfold.

I am unable to see the market action during the day and I am reviewing everything afterwards. So far things seem to be in line with expectations. We only have to have patience. Just because we can trade does not mean we will have to trade.

That’s it for today. I hope to have something more over the weekend.

Thanks for sharing my take on the market. GLTA.