SeeTheLight

Are These Earnings Really Cause for Celebration?

Manipulation by program trading and automated trading systems combined with low summer volumes means that we can stay far removed from the fundamentals for a long time. Every dip seems to be followed by a buying on a dip mentality and of course the end of day pops every day are just one more indicator of the ludicrous environment we are in.

I am bearish fundamentally, but have long since learned not to fight the tape. Set aside a large chunk of cash, put in some decent stops on your remaining positions and ride this bear market rally until it finally gives in, although whenever that might be is anyone's guess.