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Sorry, Couldn't Resist

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Oyster's presentation on Crapvision-Europe this morning was especially funny. You see, so far, the script was - Oyster is telling the people that the markets will go down. Some guest pundit in the studio disagrees. Of course, the markets do go down and the pundit is proven wrong. But that's normal; pundits are conditioned to be always bullish on stocks or have something to sell or both.


But, you see, this morning Oyster turns mildly bullish. He warns that a tradeable low is close (probably no more than 10% left to the downside) and a 2-month rally should follow. And, guess what? The guest pundit disagrees again! :lol: These people are the perfect contrarian indicator...


That said, I don't think that we have even that much (10%) left to the downside before the next bear market rally starts. 10% down would be about 80 points on the SPX - and I don't think that we'll go below SPX 770 this time; so 3-4% downside is the most I see for the bear case in the short-term.


Of course, longer term, the trend is down and the October lows will be broken later in the year.




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Still in my 6 week short position.....and loving it!


Unable to see WHY we have collapsed....


Still sceptical - whenever there is a gap down (if it happens) we also seem to reverse (and vice versa). Unlikely to change my position today anyway....



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