Wednesday, June 11, 2008

Important Observation:

I cannot help but notice how little concern i am seeing on the behalf of the bulls at the moment. This makes me think that we are only at the beginning stages of this decline, not the ending stages.


Anonymous said...

the absolute collapse from 13k and the resurgence of the credit crunch (i mean reality) leads me to a similar conclusion.

Lots of people were expecting a bounce at 12.2k, failed. it could be a disaster trying to catch the bottom a second time around (no i dont count the rogue trader dip as a real bottom).

Be careful out there, if you're averse to shorts just stay out.

Stewie said...

excellent points anon. if this decline ends up being a 3rd wave down, then this decline could be very long and painful and will burn a lot of 'buy the dip' traders. it's better to trade with the down trend and use rallies to reposition shorts. notice the VIX barely moved up today even given the massacre in equities. that spells complacency.

Fatespilot said...

Reading your comments about blogging it encouraged me to start my own. I probably should change the site addy. Any advice you can give me would be appreciated!

Stewie said...

hey buddy. I actually love that name fatespilot. i'd keep it and congrats on the new blog. i'll add you to my blog roll.

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