Wednesday, August 22, 2012

Update

So Gold has been getting a bid since the Soros news came out. Also BINGO on APPLE with new highs. Right now he market is still in lala land and you must be extremely patient with positions. Yesterday I read that only 11% of hedge funds are outperforming the indices and that tells me going into the end of the year there might be a rush in with heavy volume for those manager to show something for them to get their usual exorbitant bonuses, it is all a game! The reason why we are in lala land is because most funds are just sitting on their hands as their is not mush volatility anywhere that warrant them to take risk. Elections should prove some movement either way! As long as the republicans think the have a chance to win I think the market will thread higher but it Obama is re elected get reading for lots of the slow drift upwards to be sold. Lets see if the bulls can get to that 1417 level today on the S&P. We trading at 1407 before the open so we would definitely need some action to drift us up in this low volume environment.