tag:blogger.com,1999:blog-2335748440449035592.post1420524448719759184..comments2008-03-19T18:07:24.229-04:00TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2335748440449035592.post-45930093185702159852008-03-19T18:07:00.000-04:002008-03-19T18:07:00.000-04:00what did you expect? i don't know if you realize this but today is Wednesday and not Tuesday. and i think Charlie V is on vacation<BR/><BR/>it seems everybody and their mom got really bullish all of a sudden. how do i know this, even you were bullish. everybody bullish = bearish. it seems to pay to have a contrarian approach in this market.T-Raderhttp://www.blogger.com/profile/16892169651369153159noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-11006173533860797222008-03-19T16:16:00.000-04:002008-03-19T16:16:00.000-04:0024 hours later and I am back to whistling my tune and that is: market participants are not counting on a prolonged downtrend ala Spring, 2002 or 1974. The market is oversold and sentiment is bearish and the Fed continues to throw money at the situation and the market is SUPPOSE to go up - it did everytime this trifecta of events happened from 1982 to 2007 (except 2002). I don't know which way the wind will blow tomorrow, but I do know this: ever since there was a break of weekly support on the SP500 (2 weeks ago) and the NAS (4 weeks ago) there has been increasing chance of a continued sell off. As I don't boast or make predictions, my interpretation has been to reduce exposure and wait for confirmation as oppose to speculate on a bottom. I speculated 6 weeks ago and lost that battle!!Guyhttp://www.blogger.com/profile/09198161809721597881noreply@blogger.com