Saturday, December 11, 2010

Weekend Thoughts...

Friday resulted in a hold signal, which means I'm carrying my Thursday shorts through the weekend.  What will it take to bring this market down a notch?  All I can come up with this weekend is China...  Well, that and extreme optimism as suggested by a host of sentiment indicators.  I'm pretty much at the point where I want to say screw it and just go long.  Liquidity is solid.

This may be grasping at straws, but besides the extreme sentiment values, another short term negative is the small fact $INDU surprisingly didn't make a new high last week.  Additionally, negative divergences are plentiful, but as noted, liquidity is strong and divergences mean squat until it weakens.

I will be posting November stats shortly.  Obviously, they weren't as hot as October.

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