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