Got a Risk Manager? Plenty of hedge funds all of a sudden need one, on the short side that is…
I get called a lot of things, but one of them is not someone who routinely gets run over on the short side. That’s what we’re seeing again today. Dollar down = everything REFLATION straight up. Where does it stop? Well, this morning I gave you 1068 in the SP500 (that’s where I made 3 short sales intraday), and now I am going to move to 1074 for tomorrow (dotted red line). With the likes of Kenny the Cat Fisher back on TV espousing his perpetually bullish case, only God knows where this will all end…
For now, the long term doesn’t matter. Immediate term TRADE support bumps up once again to a higher-low (bullish). If the bears can’t find a catalyst to crack that 1037 line (dotted green), they’ll be crying “ma-ma” right into September’s quarter end.
When shorting stocks, Adult Supervision is required.
Keith R. McCullough
Chief Executive Officer