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If the Fed drops rates today, I will use that opportunity to sell any Fed-induced short covering rally. Either selling ES, or buying SDS.
I don't anticipate any potential market bottom in this down cycle until the BPSPX drops below 30.
It is rather unfortunate, but it is going to get worse before it gets better.
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Tuesday, September 16, 2008
Selling the next Rally
Posted by Phileo at 7:34 AM PermaLink This!
Labels: MarketReview
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