Old pros don't like this action ...the old guys like to see the Dow underperform the broad market but we can let this occur for a few days ...the low volume doesn't concern me ...it is the economy ...stupid !
Can we honestly move ahead with 0 earnings ...or will the earnings be the cost reductions from laying off more and more. Seems like the VIX is indicating that all is well...I am never one to call CRASH in a blog but when the market acts like 87 99 and 2002 , it gets me on the short side...since today was considered a UP day even though the average stock actually LOST MONEY ...the odds are up for a poor rest of the week and the ES resistance is still intact...and remember ...those whom are buying the stocks are those whom were selling in February.
So insiders selling too...frothy tape and a recovering economy ...out of recessionas far as we are concerned ....what to do....I am trying to short a tough market now and if it doesn't work by Thursdays Job data ...we all jump on the 1999 train cause if it doesn't fall now ...it never will !
Tom
24/7
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