Major indexes all up big; volatility indexes all down big. This is the first time we've seen two consecutive up days in a row on the S&P 500 since Oct 22 and 23. Yesterday was a gain of about 20 points, and today double that at 40 points, for a total of 60 points and a gain of 4.3% in two days. So if Monday's closing at 1407 holds -- almost exactly 10% off the 1565 closing high of 10/08; but possibly too "pat" -- I'd still expect to see the 1440-1450 range revisited, at a minimum, before resuming the march to new highs. People say that markets take the stairs up and the elevator (or window) down, but I can tell you also that the pace at which a market can "melt up" can be surprising, always counterintuitive, puzzling, frustrating. It's really the hardest thing to trade, short term; because you just can never fully believe in it. Whereas, it's easy to believe in a meltdown. If I was going to take the bear side, now, which I'm not, it would be a good time to short (sell into strength, buy on weakness), but with a tight stop. It...

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Richard Nikoley Free The Animal

I'm Richard Nikoley. Free The Animal began in 2003 and as of 2021, contains 5,000 posts. I blog what I wish...from health, diet, and food to travel and lifestyle; to politics, social antagonism, expat-living location and time independent—while you sleep—income. I celebrate the audacity and hubris to live by your own exclusive authority and take your own chances. Read More
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