It came true! Ouch ouch ouch. Remember: http://ibankcoin.com/gioblog/2009/07/20/ever-get-the-feeling/
Still, not too much harm today:
AFAM +2.17%
LULU +3.18%
MELI +3.5%
APOL -1.45%
And my CBOU long is back to where I bought it. Lol.
… so, I’ll let the bulls have this one, but I’m still feeling like “is that the best you can do?” And I’ll just continue to sit on these. I must say I had a clean exit on many of my shorts earlier this month, but imagine if I simultaneously flipped to the long side, like PCX +10% or YGE +7%. I’ll just reshort them later. After going over today’s tape, I’m going to bet against China in the next few days again, maybe on Friday. NTES, SNDA, NCTY all red today despite soft 2% market rally. This is telling me something.
One last note… VIX was flat. Super flat. I think it moved .04, which makes today’s rally a pure bear squeeze. This is a wash-out of weak and wounded bears. Please step on the side.
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I went full cash today – got merc’d by SNDK (I spit in their general direction).
There’s a side of me that agrees with you, and there’s a side of me that doesn’t. The bear squeeze makes sense, but on the contrary, this was one hell of a resistance break on two of the three indexes (the $DJI’s still holds @ 9088).
Going to be interesting as always my man.
there’s a part of me that always disagrees with me. he looks hideous.
I’m covering half my shorts tomorrow. i feel like buying some… DLTR or ROST?