Haven’t a clue, but it could reveal itself as early as tomorrow. I think of this often as a guy that trades his face off all day. I traded 50,000 shares today and over traded a bit, sometimes it’s just unavoidable. What I often think about is Martha and Harry over morning coffee and danish commenting on how slow the market was on Monday, “up only three points,” Martha says to Harry. If Harry was long and short ten different times today he would not think the market was so slow, and he probably didn’t even notice that the last 30 or 40 minutes was an absolute mess. Many folks are calling for a rally tomorrow because the “new” quarter is starting, as if investors will be leap frogging over each other to take out offers because things are just so nifty and keen in the market these days. Please give me a break, I can’t take the BS from the pundits anymore. The only worthwhile guest CNBC has had on in years was Art Cashen this morning who is the only no bullshit guy on the network, well maybe Santelli too.
The watchlist stocks are exploding, CMG and PCLN short today were great examples.