Tuesday, August 18, 2009

Nothing Changed; August 18, 2009

Today's rally changes nothing. As long as last week's highs remain intact, the immediately bearish outlook stands. The market should decline in the coming days, and possibly much more. I remain short with my very long dated (2011) put options but sold my only short term options (August 09 expiration) yesterday on the big selloff. I have not added any positions yet but will post it here when I do.

Bottom line: the market is bearish in the short term.

1 comment:

Michael Cny said...

thanks for your great effort - your market timing is really impressive!