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Friday, October 16, 2009

Friday, time to short?

I may go all in for shorting the market Friday, to the hilt. I will keep my small Gold mining positions

I will cover the shorts Monday if wrong. I am hoping Friday opens and rallies all day into the close, hopefully SPX hits close to 1,120 Friday, on the charts that will complete the bull from charting perspective. The market is so overbought, the risk of the market going up 15% from here vs 40% lower is good.

IBM reported disappointing earnings after Thursday. Bank of America reports Friday AM. I wouldn't be surprised of Bank of America last minute delays announcement until EOD Friday.

A GREAT article from Slope of Hope comparing this bull run to the last great depression. Keep in mind past experience does not gaurantee future results. :)

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