The market has already snapped back from the intense rout of selling we saw last week. Each day has felt more tepid and contrived than before. Ebola stocks, which I had been playing long with some success pummeled me today and are as good as dead. Todays pathetic volume speaks to the conviction of buyers. You can tell that bears are patiently waiting on the sidelines for a good entry. Nobody wants to short in the hole. Sure some permabulls think that was just a 'correction' but the smart money knows that the bull market has been exclusively funded by central bankers. When that money supply stops growing there is simply not enough extra money in the world to buoy stocks any longer. Bring on the Bear, I seem to thrive in volatility anyways. It's too hard to trade in calm waters, you get bullish on something, want to believe, want to hold long and it just gets wrecked. Bears always get the last laugh..
I'm looking for the 193 area around the 150dayMa to initiate shorts and position myself for a crash/new bearmarket. However it it gaps up tomorrow and starts to roll over, I may just initiate then. This contrived rally is on it's last legs.
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