Nonsense Rules

Monday, August 25, 2008

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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