To: Friends and Family
Subject: Re: Market Update March 11 2009
One sentence tonight...I bought puts this morning and expect to only add to the position. One chart tonight...the COT (Commitment of Traders) chart continues to show the only ones buying this market are the little guys and in fact the commercial hedgers and large investors (hedge funds/institutions) are increasing their shorts and have been since the January bounce. I want to be on the side of the big boys. Keep listening to that CNBC and you will go broke.
I will remain short unless $775 is taken out, then I will have to reevaluate. The key will be what happens in the fibo area of $735 to $711. Good Luck things could get bloody again.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment