And The Winner Is…
And the winner is… [drums rolling] …. Goldman & Cronies for best actor in the portrayal of a sickly market ready to breach to the downside! [applause & standing ovations]
Seriously, today’s tape had fishy written all over it. Those gyrations might have fooled some of the hobby bears but I was not impressed. Yes, playing the swings might have been fun – if that’s your cup of tea – but towards the close I mused right on my Zero chart that the bulltarts would have to get a move on to make it to their EOD spike to the upside. Of course the usual suspects didn’t disappoint and we have already gained five handles after hours.
This is how I see it – we most likely see new highs tomorrow or Friday at the latest. If you have a chance to buy the dip tomorrow, take advantage of it. If we gap higher – well, see you at 990 – and I’d be very surprised if the bulltarts wouldn’t try to make a run for the coveted four digit mark.