Tuesday, November 04, 2008

Futures up......

There are a number of reasons that people can point to for the futures being up - money flowing into the US markets on the hopes that Sen. Obama will win, the election will finally be over so we can shift our focus as a nation back to the economy, etc, etc.

I think the markets have a little more room to the upside, but skilled market participants are talking about getting short a little around 9,500 and going back fully short around 10,000. I can see a lot of merit in that argument. Don't confuse daily stock market swings with the long-term trend.

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