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IBDvalueinvestin (99.69)

How many times can the same Short Greek trap be setup?

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3

January 05, 2011 – Comments (3) | RELATED TICKERS: SPY , QQQ , NDAQ

Well it looks like they are trying to trap one more last bunch of fools to go short the market. They used the Greek scare last winter, then again just before summer, and again at the end of summer, in the middle of fall they used Ireland as the scapegoat to trap more foolish shorts.

If you fall for this latest trap then you deserve to lose your money.

How many times can someone cry wolf before you stop coming to his aid? I'd say 3 times is max, and this is the 5th time now.

 

3 Comments – Post Your Own

#1) On January 05, 2011 at 8:46 AM, IBDvalueinvestin (99.69) wrote:

ADP report blows out estimates: on a 3 to 1 basis

Stock futures have improved their position, but they continue to trail fair value. Their bounce came on the back of a much better-than-expected ADP Employment Change reading. The reading reported that 297,000 private payrolls were added during December, when an increase of 100,000 had been expected, on average, among economists polled by Briefing.com. The surprisingly strong number has also bolstered buying in the dollar, which now sports a 0.8% gain against a collection of competing currencies. With the dollar looking strong, commodities have continued their slide from the prior session, such that the CRB Commodity Index is down another 0.7% this morning after falling close to 2% yesterday.

 

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#2) On January 05, 2011 at 9:01 AM, cthomas1017 (93.96) wrote:

Then again, when the ponzi scheme that is the Euro & the Fed finally falls in on itself, the shorts will not be crying.  How many times will kicking the can down the street work?  Exercise caution...  Remember the end of the fable, eventually the boy cried wolf because the wolf was really there!

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