Monday, November 10, 2008

S&P 100 Bullish Percent Index

so 47 of the biggest US stocks have bullish point and figure price objectives. it was as high as 57 earlier last week. that doesn't exactly scream 'oversold' to me.

in any case, it looks like the pump is on for the time being. early this morning S&P futures are up, Yen's down, metals up (stopped out of my Gold short by the way). but my stance is going to remain one of suspicion. I'm willing to be convinced of a reflationary trend, it is after all what's 'supposed to' happen. for some reason though I'm a hard sell right now.