23 AUG 2010, Monday

• Would like to see some bounce here prior to considering shorts.  
• Second chart above (from http://evilspeculator.com/) is a good chart showing how much of a battle this market has been.  Basically it's a monster 10 month sideways movement.  If it does break lower, we go to the JUL 09 region (lower left hand corner of the chart).  If it breaks upward, back to the APR 10 highs (or "to infinity and beyond"???).
• My guides are mostly negative...thus I lean that way.  If the wind changes, I will try to change with it.  It has been very tough since the "Flash Crash"...these very broad sideways ranges are just that way.  They suck in the bulls and destroy them...then they suck in the bears and destroy them.  Over and over again.  It does get fatiguing for both sides.  Eventually, one side will tire and withdraw from the battle and the other side will rule the playing field...for a while.
• One heck of a battle between the bulls and bears.  How does the song go..."stuck in the middle again."