We Need Momentum
How much was post-options? How much was hope about averting the fiscal cliff? Or how much was performance anxiety because last week at this time so many hedge funds decided they couldn't take the losses anymore and had to preserve whatever gains they could muster?
I think the latter played a key role. We were most certainly oversold Friday and this bounce continued nicely today. I just think that with this being a seasonably strong week and with the president calling business leaders to ask for their help you have a scenario that could develop where the hedge funds miss an opportunity to finish up mid-teens, something that they can't do if they are already on the sidelines....195 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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