How low can we go? Even though I am not bullish any more as earlier last week, I have to second think my bearish stance. Something I have to share here that prevents me from going too bearish right now.
First, other countries are either near their highs or in consolidation phase. I hardly believe we could break down very hard from here without other countries' helps. I will show you the charts of some countries I follow.
Secondly, most people get too bearish too quickly. I suddenly got two readers asking me shorting questions today. The poll at Realmoney Barometer suddenly got two bears for each bulls.
Thirdly, GOOG is still climbing and is challenging $300, the big whole number. With tech star is still shining, how bad could Nasdaq become?
So even I turned short term bearish now, I don't think we should short aggressively now. What we need is just caution, and preserving our cash.
No comments:
Post a Comment