My market message remains the same that given the amount of negative divergences going on behind the scenes, the markets need more of a correction that lasts longer than 4 hours before I’ll buy back on the long side.

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2 Responses to “Suspicious of Friday’s Late Day Buying”

  1. Nick Levis Says:

    Nice analysis again man… USD looks to be breaking out here so I would be very carefull on the long side re. stocks… just my opinion but I think we are heading significantly lower… $1310 and $1310 are support here with $1320 resistance… $2800 may hold, but watch the dollar….

    Will post on USD chart on http://www.Hedgephone.com tonight — to me the dollar and the Euro are more important than earnings… Gold and silver look OK to me

  2. jeff pierce Says:

    Too late! I bought already. Will have a tight mental stop on my positions. I think a gap down and recovery would go a long way to stop all this short talk. If no bounce, I’ll get concerned.

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