Expecting a Pop, Drop, and Boom!
The market indeed showed its fatigue today, however the energy and telecom sectors showed outperformance. The volume was moderate and the breadth was almost 2:1 negative for the major averages. Todays action can only be described as healthy consolidation. The Bears were too shell shocked to get aggressive despite the obvious lackluster action from the Bulls. The Bulls did manage a small rally near the close.
We believe the Bulls are firmly in charge of this market for the intermediate and longer term. Despite this, we are expecting a little more growling from the bears in the very near term. Should the Bulls demonstrate another feeble attempt to rally tomorrow, the Bears may get a little more emboldend. The Bears may muster enough energy to actually add some fear into the mix over the next few days. More fear and uncertaintity would be ideal for the stronger bulls to run with into year end. So go ahead Bears,... Here's a Nice Rope!
If you held a Taser to Our Head: The underinvested Bulls may take comfort that todays pullback was so mild. They may waddle into the market tomorow thinking that the Bears have absolutely no claws. The Nasdaq may put in a small rally to around 2183 before the more aggressive Bears spring to life. We are hopeful that the Nasdaq will hold the 2140-2150 level over the next several days which would be ideal for the continuation of the year end rally. We are considering using any feeble rally tomorrow to raise a little more cash so we are better positioned to Hang the Bears.
Still staying very Long.
See you tomorrow.
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The analysis, opinions and/or forecasts expressed on the Kcap Trading Blog (âKTBâ) are for informational purposes only and should not be relied upon in making investment decisions. By using this site you agree that Kleiner Capital Management, LLC (âKCAPâ) and its principals are not liable for any action you take or any decision you make in reliance on any content. Please be aware that there is no commitment by KCAP to update the KTB. Furthermore, there may be inconsistent timing and follow up (if any) of posts.
None of the information on KTB is considered individualized investment advice and should not be construed as a recommendation or solicitation to purchase any securities. Reliance on information provided on KTB in no way establishes an advisor-client relationship. Investors are encouraged to seek the advice of a qualified investment professional prior to investing funds.
Clients of KCAP, as well as the firmâs principals and other employees, may be invested in securities discussed at KTB. However, any mention of said securities is not intended to influence market conditions for the security to the benefit of KCAP clients and/or principals and employees. KCAP is not affiliated with any advertisers on this site and does not endorse any of their content. For additional information and disclosures, please visit www.kleinercapital.com.
The information on KTB has been furnished from sources we consider to be reliable, but no guarantee is made with respect to accuracy.
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We believe the Bulls are firmly in charge of this market for the intermediate and longer term. Despite this, we are expecting a little more growling from the bears in the very near term. Should the Bulls demonstrate another feeble attempt to rally tomorrow, the Bears may get a little more emboldend. The Bears may muster enough energy to actually add some fear into the mix over the next few days. More fear and uncertaintity would be ideal for the stronger bulls to run with into year end. So go ahead Bears,... Here's a Nice Rope!
If you held a Taser to Our Head: The underinvested Bulls may take comfort that todays pullback was so mild. They may waddle into the market tomorow thinking that the Bears have absolutely no claws. The Nasdaq may put in a small rally to around 2183 before the more aggressive Bears spring to life. We are hopeful that the Nasdaq will hold the 2140-2150 level over the next several days which would be ideal for the continuation of the year end rally. We are considering using any feeble rally tomorrow to raise a little more cash so we are better positioned to Hang the Bears.
Still staying very Long.
See you tomorrow.
___________________________________________________
The analysis, opinions and/or forecasts expressed on the Kcap Trading Blog (âKTBâ) are for informational purposes only and should not be relied upon in making investment decisions. By using this site you agree that Kleiner Capital Management, LLC (âKCAPâ) and its principals are not liable for any action you take or any decision you make in reliance on any content. Please be aware that there is no commitment by KCAP to update the KTB. Furthermore, there may be inconsistent timing and follow up (if any) of posts.
None of the information on KTB is considered individualized investment advice and should not be construed as a recommendation or solicitation to purchase any securities. Reliance on information provided on KTB in no way establishes an advisor-client relationship. Investors are encouraged to seek the advice of a qualified investment professional prior to investing funds.
Clients of KCAP, as well as the firmâs principals and other employees, may be invested in securities discussed at KTB. However, any mention of said securities is not intended to influence market conditions for the security to the benefit of KCAP clients and/or principals and employees. KCAP is not affiliated with any advertisers on this site and does not endorse any of their content. For additional information and disclosures, please visit www.kleinercapital.com.
The information on KTB has been furnished from sources we consider to be reliable, but no guarantee is made with respect to accuracy.
___________________________
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posted by Kleiner Capital Management, LLC. | 6:29 PM
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