Will Cisco Kid Set The Mood For A Correction?

Wednesday, October 14, 2009

I think this bull run has already lived through all its seven lives. Maybe Cisco Kid can set the tone for tomorrow and all we need to begin a meaningful correction is a wide range day down. Maybe we will get it tomorrow. Cisco Systems is trading down over 3% in the after hours session.

I am short S&P Futures and I am being very patient with my short lines. Off course that the profits from my short Schatz position are smoothing the path and I can wait for the obvious correction patiently. As Jim Rogers usually says, "nothing goes straight up or straight down" and we will have a few dozen points correction.

The fundamentals have certainly improved a lot, but will they keep improving or are we going to dip again? One way or another markets are prone to a mild or severe down leg.

David went to Dave Matthews Band concert and I plead guilty to jeaulousy. I would love to be there jumping and shouting, "All the little ants are marching. Red and black antennae waving. They all do it the same. They all do it the same way." Go Dave!

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