Will this Thanksgiving week be talked about as the week in which the final bottom was carved? In my heart of hearts I doubt it, although I think Art Cashen made a great point when he said the shorts didn’t retake the hill the last few days, as a matter of fact they haven’t been heard from in a couple of days. Probably sharpening their swords like me.
It can tiresome for me to write and for you to read my bearishness on a daily basis. I feel your angst and pain but I think we retest and go lower still. I have relished the last few days as they ave presented new and fresh shorting opportunities. Frankly I have traded pretty well from the long side the last few days although my strength is on the short side.
I know the world is imploding, and the based on that, the move has been made into the greenback as a flight to safety but I have to wonder how long that strength can last when we print bozillions of dollars a day to put out fires. Reminds me of a guy who kept losing at the crap table at the Bellagio once. It didn’t end well.
Some charts later