I could be wrong, since I was wrong so much lately. Anyway, this is how I feel:
1. it seems the MM "knows" tomorrow (6/5/09)'s jobless claim will beat the expectation already.
2. The DOW will close above 8800 today.
3. Tomorrow and after, the DOW will attempt 9000.
4. Nothing new actually. I could sense this (attempting DOW 9000) at the end of last Friday (5/29/09) already, when the MM pushed DOW above 8500.
Again, I could be wrong. Actually, I hope I will be wrong, but I just couldn't see it.
Meantime, it is very dangerous to long too, since at anytime a 300+points down day could end up this amazing rally. Did I say anytime? Therefore, It doesn't matter you are bears or bulls, setting a tight stop loss at this moment might not be a bad idea. |