Thursday, February 17, 2011

The Same

The market has displayed amazingly consistent action with slight weakness in the morning, which is pounced on by the dip-buyers, and then strong finishes. Any downside has lasted just a few minutes, and should analysts downgrade a stock, you can be certain the buyers will jump in and squeeze the poor shorts.

Obviously, no one has accurately called a top for many months, so why should we believe that tomorrow will be any different? Markets can't go up forever, but they sure can act that way for quite a long time.

There is a lot of frustration out there as this market refuses to cooperate and give underinvested bulls a chance to buy weakness. That is probably a big part of the reason we are going up so consistently. The buyers are capitulating and are jumping in because they feel they have no other choice.

No comments: