Are we at top?

The expected came in today. Market rallied. But it hardly impressed me, since the volume is lower than yesterday.

Several things favored today's rally: (1) ORCL good earning; (2) oil dropped to $60...........But other than these two things, what else can we name to justify the rally?

Per cnnfn.com, the oil fall may be due to a liquidation of one hedge fund in energy. When the firm is done with its liquidation, we will see oil zoom back quickly. Plus, people forgot sunday's Time.com's aricle: Bush is preparing to attack Iran.

At day like today, bad news tends to be easily to forget: just 24 hours ago, YHOO issued a warning. But GOOG did have a hair cut today even in a strong day of the market.

Semi is noticeably weak, and posted a minimal gain. We just had MXIM warning 48 hours ago. Today, just a 30 minutes ago, we had another warning from SLAB, a consumer electronics player.

As I said yesterday, I took a short right after FED made annoucement. It is break even now. But I am sure I will make good profit on this one.

所有跟帖： 

• 只要老兄不断提醒我，我就觉得市场还没到顶 -not4kids- ♂ (0 bytes) () 09/20/2006 postreply 13:54:03

• 呵呵嘿嘿。。。 -但愿你飞^o^- ♀ (0 bytes) () 09/20/2006 postreply 13:57:45

• Top is more of a process. It's bull fighting with time, not bea -marketmaker- ♂ (0 bytes) () 09/20/2006 postreply 13:59:26

• As long as you stay bearish, I'm bullish. -dividend_growth- ♀ (79 bytes) () 09/20/2006 postreply 14:18:15