"To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate."
Jesse Livermore
Well I have to confess to a little more than speculation perhaps, as I read a signal from this market that it had reached bubble territory, and that the 'rally' into option expiration last week was hollow, and went heavily short US stocks into the close on Friday.
Flat now, and waiting for the market to tell us which way next. The support is fairly obvious. I will be looking at the short term indicators later on. So far we do not have a general 'sell' signal on more than the short term.
