Sunday, May 3, 2009

A Top May Be Near

I've got bulls breathing up my sides now, and there are certain things that cause me to think, wow, everyone is getting bullish. I just had another comment made to me about this, and so... this is just a friendly reminder to myself...

I definitely could be wrong, and the market may just run-up to 1000, but I've got my money bet that we turn south before going to 1000 SPX. If we bust above 900SPX, it may be done for the bears temporarily, and I'll have to take the loss.

Don't get caught up in all the bull! As many people say, in bear markets, stocks rise on bad news and fall on good news. What have we been seeing? Exactly this.

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