E,
I've not yet seen real signs the RUT is done.
But, I'm gonna make a crazy prediction. Just a nutty one. And, I'm not going to bet a single dime on it, so as a prediction, it's worth less than a dime.
On Fed Head days, when we get a bounce before the bullshit, and on nothing, it sometimes indicates a front-run reversal is at hand. My outside the box, 9/8 prediction, is we sell this afternoon and hard.
The driver? Fed rate forecasts that are not extended. The jawboning may mean next to nothing, but if the average duration does not extend, we might see the turn.
And, then there is the Euro. The street knows the implosion is near now. All the happy talk is failing to produce a sustainable turn. Short Euro and short market may have a nice run in May and June. All setting the stage for the Fed to come in and do another QE in June.
Let us watch and play small.
GT
TH |
