The market continues to have unsustained rallies. It's alway amazing how we get some timely released headlines to jawbone the markets higher. You really have to just laugh because this market is so desperate. They're pulling out all the stops to keep convincing everyone that it is safe to keep buying.
However, I really think the market is in a bear market because the BULLS can't even hang on to every 30, 40, 50-point rally. Where did those BTFDers go? Those guys who would never stop buying the dip and BANG the close so ridiculously high bears go piss themselves? Those are the people I am missing.
Each time we get a dip, someone miraculously shows up to buy. It's actually funny. Apple did horribly. Netflix did horribly. I don't know how long the markets will keep getting supported but unless one of the major central banks go full retard and outright buy stocks in the open market, we are going to continue dropping.
The sad thing is that a lot of people don't know how to trade a bear market. Well, if you got so used to trading by buying the dips, you are going to get schooled soon.
Traders from Equity Sense will be writing on this blog on positions and other market-related things.