Although the technical charts continue to indicate Bullish moves higher, we still sense everything is wrong. Technical Analysis is not 100% accurate. There is an almost comical artificial support for the stock markets. If everything is going so well, why do the large bankers keep propping and talking it up? It's good to know that they care about keeping the markets going and helping the millions of investors and their 401k's. Never seen them so nice.
Strange.
This morning, we initiated a decent size position on the expectation of significant profit taking in the markets soon. We are betting that this is an artificial liquidity bump so large investors can liquidate some stock holdings. We will have tight stops. We also see a potential doji star formation which may signal a short-term trend change is coming. We don't like to jump the gun; however, we are speculators and we just don't think the bankers always have the best interest of their minions in mind;)
We couldn't resist!
