Look Beneath The Numbers

Yes, the Dow was 140 points today but as always we have to look at the internals.  They were weak, weak, weak.  Once again, the market is just floating up.  Sellers take a break, cover their shorts and then pound it down eventually.  So, you & I are left to short more.  I shorted some yesterday and will continue to short on the way up.  As I’ve been mentioning on my radio show, you can still trade in this environment but the easy money I still believe is selling into rallies.  The S&P 500 has held in there by holding up at a key technical level.  With no fuel (demand & volume), this rally will fail like the rest of them.  Just pretend this is 1999 and turn your screen upside down.  You’re just buying the dips.  That’s what I mean when I say sell the rallies.  It’s not comfortable but the path of least resistance is still down.  

Biz Radio in San Antonio

As of February 1st, Biz Radio is officially on the air in San Antonio.  1130 AM on the dial.  

This post published at www.karleggerss.com

None of the content on this page can be reproduced without the permission from Karl Eggerss and www.karleggerss.com

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