That's about the sum of it for this morning. I'm a longer player than a short term day trader. I made my bets on this market on the way down and even caught what could have been the bottom on Wednesday by buying some good value. Right now the game is in play for me and I've locked and loaded. I'm hoping for a bit of a selloff so I can get some of the sacrificial funds from yesterday into the market.
However something is nagging at me that we are going to have another up day. Which will make me wonder where the money is coming from. Perhaps our tell is actually telling us something. The yeild on the 10 year has come up two basis points from last night to 3.76.....a small move, but perhaps an indicator that our tell on the 10 year is a relevant one.
Careful out there today. Fear is still all over this market like a wet blanket. Rumors, weekend flattening of accounts, and other factors could swag us lower quickly. Im hoping for low, but not lower than earlier so we can establish a stair step that gives a market legs.
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