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Tuesday, February 28, 2012

Market Has Made Up Its Mind

Market has made up its mind to screw all, bulls and bears alike.  Bulls on the surface look like they are sitting pretty.  The reality is, aside from their 401K/IRA accounts, most hate this relentless grind higher.  They have taken profits earlier and been waiting to reload at lower prices.  As for the bears, they've been taken to the woodshed many times over and are on the verge of capitulation, speaking for myself.

The market has plenty of opportunity to have a proper correction (e.g. > 1%) before continuing higher, but it refused.  This can only mean one thing-- it wants the last bear to resign and the last bull to chase, then it is light out.  The market would dive down big, not in a fashion of a correction, but down and not looking back.  This time around, the bears would chase, and the bulls would be taken to the slaughter house.

The market has made its intention clear.

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