Monday, June 8, 2009

Top in, Monday Should Bring Selloff; June 7, 2009

I'm quite confident a top of significant degree is now in on the stock market. I expect the futures to hold overnight down mildly, or even up slightly into Monday morning's US open. Either of which should bring about a good selling opportunity with a stop loss at Friday's early morning highs.

This market is bearish and should fall Monday, and possible most of the week.

I'm heavily short as of Friday.

3 comments:

Anonymous said...

Dude you should be pissed the Government is propping up the stock market with those large "end of day " purchases to get the private investors to bail them out of helping the banks. The market can't crash until the Government has a need for it to drop like a rock , ie more stimulus !! " Look we are recovering so buy bank stocks at 2 to 3 times they were a few months ago " Next " Sorry the economy is in terrible shape , see the drop in the stock market " We need more stimulus/ pork barrell or the world will end " etc etc.. all manipulation ! Check it out , see interview on FOX of Dan Shaffer. on youtube.

Anonymous said...

See this video for proof !! Government screwing with your money!
http://www.youtube.com/watch?v=hxBqAw75Bpo

Todd S said...

Thanks for the link. Yesterday's insane 12 minute sraight up rally into the close was quite unusual as it was not accompanied with any news or data to cause such a move. I don't have any proof that the government is doing this although I would not be surprised. As a short-seller the past two years I've learned to tolerate the government fighting my positions constantly. Regardless, the government's efforts will all be in vain, and will fail in the end. Being a bear and shorting the market is extremely difficult psychologically due to the large swings up and down. But well disciplined bears are rewarded more handsomely and quickly than bulls are.

I will demonstrate this from the cash cow that will come when wave 3 starts.

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