Thursday, February 4, 2010


While I've been talking about the cake being baked we've just done nice big double top over the course of October 2009 through February 2010 on the daily charts.

Obviously, this doesn't have to "fire" but it does invite a big panic drop to retest the July 2009 low of 70.75 or so. Considering today's rapid plummet of 300 points at this point who can say.

As I noted on my last post I do think people are being too pessimistic. However, they can panic and be pessimistic far long than I can stay solvent if I bet against them. Be careful out there.

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