Are these bids coming from newly printed money? Did QE3 announce? On what good news could this market be rallying?
This move this week makes me really nervous.
A great way to suck all the life out of something before it rolls over and dies is to make everyone think how alive it is.
Just the wealth effect on steroids, nothing to see here.
I just reloaded on some more shorts.
Anyone play the VIX? It's nearing it's 3 year low.
Insiders were calling for a rally this month. I loaded up on some shorts at the end of the day today. I'm probably a bit early as I usually am, but I'm not turning away from this one. It's run up way too much in too short of a period. It spells GREED all over it.
Would be insane to me if we're not below these levels 1 week from today. I'd think something like 3% lower.
The market is still going to do well this month. Then come 2-3 weeks or a month from now and we're gonna see the start of a 20% correction.
We're not trading against the market, we're trading against ourselves.
I saw an article on Zero Hedge on Tuesday that predicted this move up.
Here it is:
Take a look at the XAU today. It looks like it bounced off the 200 DMA - we shall see what happens tomorrow.... but if it closes above the 200 then we could move much higher from here: