Jan 15, 2009 is the last day for mutual funds to close their 2008 book. Lots of buy/sell going on to cover all positions.
It seems to me that, there are lots of short positions need to be covered. This short squeeze might push market even higher. I will sell all my regular stock positions in the 2nd week of January. Then wait and see what are Obama's "big projects" can offer to save the world. Market continue hyping for the best regardless what is truly happening now.
very low volumes today....not many sellers today...I wouldn't read too much into all this...the economic news is pretty grim... retailing up today??? help me with that concept.. manufacturing index way down today... you will see waves of layoffs announced over the next couple of weeks now that the holidays are over. There may be some opportunity here, we are still very much in the grips of a bear market.
You are too stupid to be in the market. JAN is the bull market for now. We are in the bear market long term, not short term. QID will crash to $40 in JAN. I'll never buy QID above $40.
Buy at $40 after Jan 20, bud.
QID crash below 5 years support today, what does it mean? Think about it. Every institutions will sell into dead cat bounce until $40. Remember my post today. If you stupidly go long now, you have no ideas how to read charts.