Wednesday, June 4, 2008


for the third day in a row, we had some big intraday swings, and to complicate things even more, there is a complete lack of follow through, up and down, in all the key sectors; today's winners are yesterday's losers, and vice versa.

crazy intraday swings and mixed up momentum makes for some very difficult trading. and then, of course, we have the value and contrarian folks debating over whether financials are bottoming and/or oil topping. the deteriorating condition of the major indices provides a great backdrop for the whole muddled mess.

the one thing that is clear right now is that strong convictions one way or the other are going to give you some nasty whiplash in the short term. the bigger question is what sort of trend eventually emerges from the muck and mire. all we can do is play it safe and wait and see.

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