Short-Side Traders Waiting for Good News
The bears gave it a decent try, and breadth is still fairly poor at 1,900 gainers to 3,400 decliners, but I suspect the shorts are going to wait for some more headlines to hit from Europe before they give it another go. The bulls are pushing again, and the risk of an upward spike on all or some of the upcoming announcements from the European Central Bank and the summit meeting are quite high. On the other hand, you can bet the bears are thinking "sell the news."
I'm inclined to try the short side myself, but only on positive news headlines. I have no doubts we will be seeing some and we have already used up a tremendous amount of gas on the last dozen or so. There is no way I want to try to build shorts before major European news events....116 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.