Well there you go. That bounce didn't last long. One day of weak holiday volume. We gave back all of Friday's gains. And more. One giant flush this afternoon.
This market is damaged. No. This market is broken. Not technically though. Not yet. Soon enough.
The pain has just begun. Maybe the market can put in a double bottom here and vault higher. Though it feels to me that we are rolling over. A CLIFF!?
Tonight's watchlist provided 37 short and 13 long candidates. I'll be looking at the shorts and maybe adding to current positions. Cautiously now. The bounce is still out there waiting to trap the bears. Change in sentiment from uber-bullish to sanguine/nervous has me concerned but I don't yet smell fear. AAPL, GOOG and RIMM need to roll first. That may start real soon. Or not. I'll be watching those names more closely just the same.
Again the futures are being gunned upward tonight, speaking of a bounce. See, I'm scared. The short side has been too easy and when I'm hot, I'm nervous. Let's see if this one lasts any longer.
I had lots to be thankful for this year. Hope you did too. Even had Thanksgiving TWICE, on two different days, at our house and with me doing dishes.
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