The Daily Dose of Trading Comments

Yesterday I got it in my head that it was time for this market to, at the least, mark some time. I went short on some index futures and was slapped rather hard as a result. The short was at the end of the day and not a moment before. Futures are weak this morning and we may get the little pullback today before the two weak volume days where they push the indexes around again.

I've been lightened up quite a bit of late as it appears to me that a set back of larger proportions is just around the corner. Given what happened yesterday, it appears that next week is the best bet for that setup. So, we need to be patient and wait it out at this point. A good set back would allow us to purchase back some shares we have let out for a slow melt up into end of year. I can almost guarantee you that after this big push, the bonus boys are not going to let it all slip away before end of year when volume is lighter and bonuses beckon.

So, my thoughts are reasonably the same. It's a time to consider being more careful than you have been of late. Don't let your profits slip away and don't be too quick (as I was yesterday) to short into strength. There's an agenda out there and it's year end bonuses and they intend to get there diamond bracelets and fast cars for their sweethearts.