Thursday, February 12, 2015
Is everybody positioned badly? Then we'll begin
SPY is threatening to break upward:
And QQQ is already there, though sure fine go ahead and say it's only because of Apple:
Everyone and his mother (i.e. the Wall Street Whitey talking head brigade) is already positioned for a sideways chop market. So it'll be funny if we now see a 10% explosion to the upside.
Fact is, the market always does what screws the most people, and it seems that nowadays the only guy who manages to skate to where the puck is going to be is a one-in-a-million genius like Warren Buffett.
Note that $TRAN isn't confirming this move yet. Then again, Whitey's been selling perfectly good transportation stocks like CSX and JBHT for a while now, so maybe $TRAN will need some time to recover.
I dunno for sure where the market's going, but I've got a feeling that the sideways chop crowd is going to get burned.