Despite the weakness into Friday's close (which took me by surprise, btw...I was expecting more "uummph" by 4 pm EST) I still believe the nearer term probabilities favor a rally.
But another dark possibility is also out there. If this fragile rally breaks, I can easily visualize another horrifying leg to the downside and quickly; I'm talking Dow 7000 in a very short period of time. For the sake of all my permabull family members and friends I hope that doesn't happen, but I must emphasize that
This is the weakest action I have ever seen in my life!
So while yes, I plan for a rally, but if this sucker breaks- take cover.
No comments:
Post a Comment