Lester alert: Lester (aka the worst trader in the world) threw in the towel on his puts except for 1 and actually bought a call to hedge his remaining position. What a buffoon.
Meanwhile the "rev shark" over at realmoney.com who has been nothing but atrocious this year is bullish after being confidently bearish when the market was 50+ points lower. Last time he was bullish like this was early August. You watch though, as soon as the market drops 10 points he'll go back to "protect your capital, don't fight the downward tape" mode. Like the typical trader these days, it doesn't take much for them to turn bearish on the first hint of weakness but they only turn bullish kicking and screaming i.e. after the market has had a strong move.
Cramer's also feeling a little giddy now. Just a week ago he was so depressed I thought he was going to slit his wrists.
This is all happening at a time when the market has been gap happy and ST overbought. Not a good combination folks. Yet another gap and run day today. This rally is built on sand.
No comments:
Post a Comment