Guys there is going to be a massive european rescue deal announced in the next week or so. There were intense meetings in Europe yesterday and there is also the G20 meeting next week. I expect a big rescue deal to be announced. Now, the market could take this either way. If the market feels it is not enough, the smart money will sell the rally. The one thing that may put pressure on a short term stock Market rally is dollar strength which is what we should have for the next while. Nevertheless, I do expect we may get a bounce when this new information is put to the market.
In saying this, I do feel this rally will be short lived. This is a time to stay nimble. I know for a fact that alot of investors will refuse to take on this trade. If you are short, there is no problem with staying short. I will see if I spot a top when the market rolls over once more..
Stay nimble..
