New York, September 2nd 2010 by Jean Jacques Chenier
Yesterday's strong rally was a typical bear market rally. Bear markets rallies are fulled by short covering. There should be little follow up but we'll wait the middle of next week to go short. Traditionally, the days immediately before and after a national holiday see some support.
However , September can be a treacherous month and we are looking for an opportunity to short the S&P 500 (a s well as the Nasdaq) next Tuesday.
Have a successful trading day.
Jean Jacques Chenier
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