Friday, 18 July 2014

1pm update - where are the doomers today?

US equities continue to build gains, with the sp' +15pts at 1975, a mere 0.5% from breaking a new historic high. What remains utterly incredulous, where the hell are all those who were touting the doom yesterday? Are they still trying to short this market?



Today is unquestionably an utter failure on the part of the bears. Last Thursday's low of 1952 is now a clear 1% lower, and its laughable how we are now within a single trading day of breaking a new high on the sp'500.

I have seen a lot of chatter about 'hey, are you not looking at how bearish the R2K is?.... do you not seen how it put in a double top?'

...and here we are...and the market is closing the week on a pretty strong note, and many indexes will have net weekly gains.

*as for me...I'm not interested in chasing the market higher into the weekend. Will look to go long on any Monday pull back...if not....... at least I'm not short.

 awaiting lunch.