Thursday, June 18, 2009

Nothing Changed; June 17, 2009

Nothing changed with today's action. If anything it just proved again that even after the Dow losing 300 points in two days, the bulls still cannot gain any control or strength. It's quite possible today is part of an ABC correction which will lead to a sharp wave C rally tomorrow. But that will just bring about a better opportunity to short some more as the ensuing decline should be quite fierce.

I remain staunchly bearish.

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