Friday, 9 August 2013

2pm update - irrelevant declines

The market continues to bounce, and we're a mere 5pts from breaking into the 1700s again. Once again, its absolutely clear, bears are pathetically weak, and the underlying market is relentlessly to the upside. Even the sp'1670s look far away right now.



A pretty lousy end to the week. Oh sure, we're not yet above 1700, but hell, why would we not close there ?

This market is unbelievably strong, and it remains bizarre to see how some comments out there about this mornings 'big decline'.

Big? I see the indexes a few tenths of one percent.

I'm still short, but its largely a waste of time, whilst the bears can't even muster a 1% decline.