Monday, May 4, 2009

Market is in danger

We should pay MORE caution here to the market.

With stress test result to be out on Thursday, banks are likely to cash out to try hard to meet cash/capital/etc. criteria set by Fed, since not a single bank wants to see its name in the failure list. If so, Today's top on SPX could be a real TOP to play on short side.

As I am writing this, market starts to pull back with sizable volume. Still holding my BGZ, with a mental stop.

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