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SPDR S&P 500 ETF Message Board

  • bukowskiaz bukowskiaz Mar 4, 2014 10:21 AM Flag

    Relief Rally and Short Squeeze

    As a bear, I was not expecting anything from the situation in Ukraine. What I don't like is a relief rally that takes us higher than last week. That is a combination of feeling too good that there has been no aggression on the part of Russia and a short squeeze. Unfortunately we've seen this many times from the bulls, particularly as it relates to the US government and its dealings with the deficit and the debt ceiling. Just because something bad does not happen, the bulls feel the market is worthy of going much higher. Assuming no relief rally from Ukraine, no one can convince me that the economic reports that came out yesterday justify this march higher. But, this is what you get when the bulls are doing crack, holding hands and jumping off a cliff together. Enjoy it today, those who bought more equities yesterday showed some balls and are making some gains. Our day is coming, and you'll keep buying even when it's upon you. That's how the dumb money gets crushed.

    Sentiment: Strong Sell

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