I have a Bad Case of Gun-shyness. anxiety.gif
It's like guessing if the Groundhog will see his shadow. Punxsutawney Phil is dead!
https://weather.com/news/news/winnipeg-willow-dies
No groundhogs visible, only ostrich behinds...I do expect some mid-day buying....and then continued selling through at least Tuesday of next week. This ain't over till it's over. Expect the unexpected.
MYTH: Ostriches bury their heads in the sand when they're scared or threatened.HOW IT STARTED: It's an optical illusion! Ostriches are the largest living birds, but their heads are pretty small. "If you see them picking at the ground from a distance, it may look like their heads are buried in the ground," says Glinda Cunningham of the American Ostrich Association.
WHY IT'S NOT TRUE: Ostriches don't bury their heads in the sand—they wouldn't be able to breathe! But they do dig holes in the dirt to use as nests for their eggs. Several times a day, a bird puts her head in the hole and turns the eggs. So it really does look like the birds are burying their heads in the sand!
https://kids.nationalgeographic.com/...-myths-busted/
Squealing continues. What about that ATH, you say? Uh huh....that was January. This is now. In equities? Wave bubbye to your value ("they" say it's not money, not a loss until it's sold).
Agua Fria Freddie is still alive-we think. No one wants to get close enough to verify it.
Agua Fria Freddie – Because a groundhog in PA knows nothing about weather in AZ!
PO
Dangerous territory; hidden potholes; land mines; muggings; shooting one's self in the foot - that's the metaphors I think associate with current market levels. Nothing in the aaii or the volumes or the VIX trend or the EMAs across indices (see Tom's comments today) to convince that an interim bottom has been put in.
Veto!
This dead cat is made of lead...bounce unlikely...I expect an L shaped plateau in the 2,500 neighborhood. That's right, another 4% without reprieve....from there, nobody knows the direction (yet).
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Well, wrong so far...
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