Friday, August 21, 2009

fugetabout it

I was planning to make a bearish play today but I'm going to be cancelling that. I'm now believing today will be an up or flat day. The rydex money market chart I posted last night doesn't include the effect of yesterday's rally....you have to wait the next morning to see the changes. Well, I checked and they didn't budge at all meaning they didn't chase the rally and still have quite a bit of money parked in MM funds. This suggest another good up day or at the very least a flat day with very marginal upside or downside. I know this is only 1 obscure indicator but it's been such a damn good one in calling the day the day wiggles in the market. Futures are looking good far too. I'll be watching to see how things look like by late morning...mabey I'll change my mind again....yup, I'm a flip flopper and proud of it!

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