Friday, November 21, 2008


I do apologize I have not been able to do any posts the last few days but I hope from my earlier in the week opinions you would have known to not go long on any fakeout pop this week. I had a busy Wed and was not able to post lately because I am in Las Vegas for the Traders Expo till Sunday. Rubbing elbows with traders like Tim Sykes and Robert Hoffman and John Carter. It has been a fun experience so far and as I type I am sitting at Starbucks watching the ES futures bounce off 740 low and race up to 755. I will be short and sweet with this. Do not fall in love with the upside. We have not bottomed and I expect more downside. Maybe not today (although the 760s will be great resistance to sell into) but eventually this market will be going lower. I have never seen a bottom on a Thurs or Friday and surely doubt we get one the week of Thanksgiving as volume will be lighter than avg.

No comments: