Still, No One Is Long

Click to enlarge
Click to enlarge

The folks at  McClellan have done a great job of calling this tape. Whether you believe that last week marked a short term bottom or not, this chart is fascinating. In March he said the market would bottom on June 4th. Not bad. It may telegraph what is to come. Much higher prices.

Here is a clip from his Bloomberg interview on Thursday.


Joe Donohue

Joe is a full time trader with 25 years experience. He is a senior contributor and investor in Stocktwits and has been seen on CNN Money and quoted in Marketwatch, Forbes, Reuters, NY Times and Wall Street Journal.