The strength of today's bounce has taken me by surprise. I was only 50% positioned long and already sold some in the bounce. In reality, Energy/Treasuries Selling/Weak Yen are really pulling the market up. Cannot be short under such a condition, but this sort of short covering move is typical of bear markets.

On the oil sector, SCO is telling us that oil is overbought right now.



Pascal

Name: SCO_EV.gif Views: 149 Size: 33.0 KBName: 20DMF_RT.gif Views: 124 Size: 45.5 KB