Nonsense Rules

Monday, August 25, 2008

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The light volume action has made the market volatile and unpredictable and this type of action is likely to continue throughout the rest of the week into Labor Day weekend. I thought Friday's 200-point move higher was silly and, today, it was met by a 240-point move lower. My basic mindset is to ignore the nonsense and stay bearish on the market unless proven wrong. I am long the SDS looking for new highs on the year with stops at the $63.00 area.

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