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You know.. I've about decided there can only be two explanations for the
action of the past few weeks. All fundamentals point down. Nearly all
traders point down. Most analysts are mute or flying red flags. So what
does the market do? It has a nice, fat .. recovery. So, why?
1. The U.S. government is buying contracts or equities or both.
2. The pros are taking advantage of the huge short positions out there and
buying them into a panic. If this is the answer, it will not stop yet. We
have no way seen capitulation by the shorts and for my money, capitulation
works both ways... when we have a panic buying day or two, I will expect a
large sell off as the pros take profits and with the shorts terrified, the
market will then continue to sell off
Oh well.. it's a great traders market like it is. Go either side and if
you're wrong, wait a couple of days and you'll be right. :)
Good luck next week all,
Bob
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