Watchlist for January 26, 2004
3 Comments
Essential Reading
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More and more I'm reminded of the 2000 ramp up through spring. The market that defied the critics and the bears, that killed the shorts. Until there were no more shorts, then came the pain.
Right now there are shorts. Everyone keeps expecting a pullback. That's what everyone keeps saying. And their short positions keep getting killed
Not only do shorts keep getting killed but a lot of the cash waiting on the sidelines for a big pullback continues to be disappointed. The combo of a bear capitulation and the "capitulation" of the latecomers could make for one powerful blow-off top at some point...
Shorts finally get to do a little jig. Market is finally looking toppy now with several macro factors beginning to directly line up against it. I am sure the bulls will put on a spirited fight though.