Looks like the only thing that can bring down the market is for Dow to touch 13000. Bad existing home sales and consumer index barely moved the market, as the dip was bought and push Dow within 11 points of 13000.
- I added a few DIA puts and TWM position today. I thought the market would head lower after the existing home sale number.
- Now, like I said, I'll keep a tight control over the newly added puts and shorts.
- Tomorrow we'll have more earnings and new home sales. So far the earnings were good, that's why it pushed the market higher.
- Even though long term I see big drop in the market, I don't know if it will climb first, like pass 13000 on Dow and 1500 on S&P500, maybe these two can bring down the market.
- I'll wait and add short positions carefully.
- If they blame weather for the poor existing home sales number, then we'll have a bad number for new home sales tomorrow, and durable good orders. But you never know. And I'm sure market will rally if these two are good.
- I'm a little tired of this senseless climb in the market.
1 comments:
Your not tired of this senseless climb in the market your tired of being wrong. Its like that economist you follow that said subprime was going to be a disaster. What you think and read and belief is who you are. Take a wider view. Being the smartest guy on the block does not make money. Going with the flow is where the money is.
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