- Potential Dubai debt blow-up...conveniently over Thanksgiving holiday impacting international markets? Niiiice! Boostards held it up in the front half of the week knowing this was coming...no doubt. Perhaps that explains the run to T-Bill safety mentioned last week (22 NOV post).
- All previously drawn trend lines and horizontal support / resistance areas are still holding significance...so far. Interesting.
- Action is happening overnight with big gaps prior to the normal trading hours leaving only the scraps for day traders to play with. Hmmm...reminiscent of how the upmove from March started. Crazy crap! Da Boyz rule this tape with all the free money pumped into them via the Federal Reserve and federal government "looking the other way".
- Only guarantee...this will not be easy in either direction.
- Sentiment, below, is not a precise timing tool. But, it is interesting that newsletter writers are as bullish as they were at the 2007 top...and with fewer bears, too. Just something to consider regarding potential risk environment.
- Since T-Day timeframe was very low volume, it is tough to draw any conclusions...which is precisely what Da Boyz probably want...max confusion.
- Short term direction...unknown. Will take some time to settle out. Intermediate term still up...although small caps have broken their trend. However, on the 60 minute charts (currently oversold), we have made new lows but are probably prone to a rise before clarity is restored.
- Entering a very difficult time of year (year end). There is the potential for many cross currents as money managers try to protect profits and there will be less and less trading as we draw closer to the XMas holidays.
- Just my thoughts. Could be treacherous both ways. Time to be patient and nimble at the same time...not fun...I'll be trading in and out more than anything.
- However, I'm still looking for safe shorting opportunities if they present themselves.
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