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4 days of consolidation -- mkts should have a good move from here.... either way.I'm still betting up w/ya, J, and still building the long position. Today was a good one to get FAS at the open on that JPM news from the night before. Mkts had had plenty of time to chew on that. Looking for $97 on this FAS position, or an exit signal above my basis, whichever comes first.Sentiment is largely bearish and a lotta MF money left the mkts last week, so the masses are thinking and betting down. That, too is good for your long signal, J.
FWIW, FAS had a very high correlation to TNA for the past year.
Futures are bleak this morning...
the market is stupid, or maybe we are
Markets are never stupid.