Schicklegrubbing
If this market wants to rally, it sure has a strange way of showing it.
Nothing seems to be making any significant ground in the SPX.
At best, there are an increasing amount of stocks above their 50dma.
Maybe a little relative strength in the Utilities.
In a bear market you make more money shorting the strength than buying it.
I’m not seeing a massive rally in the tea leaves, and the strength in the Utilities is probably a red herring. I’d like to use my time machine, but my bitch ex-wife got it during the divorce… I think she’s fucking The Fly. Nevertheless, I predict that we’ll be hearing about credit problems in the utilities industry; they love the debt, they have a high yield, they’re too big to fail and every fucking Mom, Dad, and Shmuck-A-Fuck has been buying equity from their Schicklegrubbing brokers.
On a totally different side note, I don’t know what to think about Twitter. I tried Twitting trades today, and I have little to show for it… time will tell.