Friday, May 11, 2007

Distribution underway

Pivots have been hit; short trades continue to work so far.

I have no idea how far this correction will go; could be a blip or the beginning to something larger. Time will tell.

All I know is that this market is EXTENDED, so a larger pullback wouldn't surprise me.

I remain curiously sanguine about the whole thing. My short positions are working, and the stocks that I like are coming in to levels at which I'm interested in buying more. So as far as I'm concerned, "bring it on"

Also I've nailed the EUR/USD trade (currently around 1.3481)...c'mon dollar, you got a chance for a good run...go,go!!

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