Wednesday, December 31, 2008

Expecting Big Move at the End of Today; Dec. 31, 2009

I expect the market to sell off big at the close today. Currently the S&P is at 905


Michael K. said...

Holy moly. Do you think the big boy will start buying on Monday, bringing the s&p to 1000? Or do you think they will take in the profit and tank the market?

Todd S said...

The rally is weak and complacency and over-optimism is settling into the market so it's vulnerable to fall any time. However the rally doesn't appear complete now that it made a slight new high today. Odds favor more upside before the next major declining phase gets underway. I'm not touching the long side though, I'm shorting rallies only.