Thursday, June 29, 2006


Today has the makings of a fake rally. Low volume and stocks are flying through the roof ahead of the Fed meeting. Either Bernanke has preannounced he is dropping rates by a full point or we have a fake rally on our hands. Either way I am scouting out short positions and adding more where I can. This rally cannot be sustained in the long run. Bulls are in for a long and brutal summer. We have already had earning misses - RHAT comes to mind, and the downside is brutal. Either way, time will tell and I have my fingers on the trigger ready to go all in short.

No comments: