Let me begin with an apology for not posting last week. I was in New York for the Big Picture Conference, which was great, but I did not have access to my computer. It was nice to visit NYC and play tourist for one day but as always, it’s great to be back home.
The one post I did get out on Sunday discussed why I felt the market was conflicted and that the bears were likely going to take control. This began to playing out, with equities having a tough week. As those of you that follow me on Twitter know, I am not overly surprised we are seeing an oversold bounce that started yesterday. This is how markets work themselves out. Capital markets rarely move in a straight line. A bounce was due but I’m not convinced it wont be viewed as a bearish equity fake out.
What I heard at the Big Picture Conference confirmed what I am seeing in the data and price action I’m observing…things look ugly. I haven’t lost all hope and still feel the bullish notes I addressed last Sunday are still valid, but as I wrote in yesterday’s TraderPlanet piece, it appears the bears are licking their chops.
Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer. Connect with Andrew on Google+.
