Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Obama Rally: Many Think it Should be Sold

When politicos jawbone the markets higher in media driven events with a hand picked audience it seems silly not to fade this as a selling opportunity.  As a lifetime commodity trader and market watcher, I saw today that Bob Prechter also thinks the rally is a sale.  He notes that the market is acting much like 1930-31, and also notes that the Flash Crash was the first in a series of legs down.

” …The wise move now is to sell this recent rally, says Robert Prechter, president of Elliott Wave International.  “I think we’re getting ready for another leg on the downside,” Prechter says, citing evidence of what he says are extreme levels of optimism, including:

For more information visit

Disclosure: No positions