There's an old saying that you seldom appreciate what you have until it's gone. In a twisted sort of way, I would hope that the readers of this site feel that way over the coming weeks and months. After providing daily commentary for two years running all during the trading day, outside obligations will cause this to cease for a while. I don't mean to be facetious as much as to hope that my work means something to most.
The market started out with strength in the futures but here at the opening, it looks more like sell, sell, and sell. Our time frames suggested that this week would a lot more two-sided if not downright one sided selling. We have moved to slightly net short in anticipation. It's likely to be a bit choppy as the dip buyers step in, but if they are not rewarded quickly, they will add to the pressure. I expect that to happen this week. Preserve capital at this point.
The market started out with strength in the futures but here at the opening, it looks more like sell, sell, and sell. Our time frames suggested that this week would a lot more two-sided if not downright one sided selling. We have moved to slightly net short in anticipation. It's likely to be a bit choppy as the dip buyers step in, but if they are not rewarded quickly, they will add to the pressure. I expect that to happen this week. Preserve capital at this point.
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