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Tuesday, February 10, 2009

Stimulus: Buy the Rumor, Sell the News



I'm betting the stimulus package can't do anything but disappoint. Classic buy the rumor, sell the news.

Obviously if the Bulltards manage somehow to party on, stops should be placed just above the prior swing high of roughly 877 on the S&P 500.

5 comments:

dacian said...

Everybody expects it to be a "sell the rumor"; that's why I'm not so sure it will happen (even if I'm rather short right now :)). I agree with you on CPC, it points to a top on the markets.

Running Man said...

got to agree, I'm short and have been adding but it just looks too easy to be honest

Anonymous said...

I couldn't agree more -- let's hope the bulls don't prove us wrong. Of course, you're the guy who shorts into futures limit up situations with abandon so I take comfort in your conviction!

Ben Bittrolff said...

Hehehe...

I love Timmy!

Vijay said...

Ben, looks like a major triangle going back to early October is about to break. I see the bottom end of the triangle around 825 on the S&P. If it breaks, then we're gunna test the lows. It may actually be a good spot to go long with a stop around 810, where you'd go super short.