Tuesday, August 25, 2009

super bearishness in blogosphere is downright scary!

The widespread anticipation of a massive correction within Blogosphere, even on shows like FastMoney and such, is downright scary!!! Although I think that the market is way overbought and needs to correct, I wonder if the market is going to do the exact opposite, as it always does, and go even higher and touch 1200!!! I will stay short until the market ($SPX) closes above 1040.


Edit 11:30PM: I read my own post (seen above) after a couple of hours of posting it and I said to myself, 'Yep, the market will surely convince every last bear to become bullish before it goes down finally" and I wonder if my post reflects a (tiny?) bull in me, which in turn should be indicating that the top is near- how near? -Dont ask, Dont tell - no one really knows!! So am keeping short until the condition mentioned in my post is met...

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