First, my heart goes out to the families in the earthquake and tsunami. I hope them well and to make the best out of this hardship.
When I woke up this morning I turned on the news. The first thing an anchor said was that “Oil prices should be going up because Japan refines oil but because oil prices are down because they will not be able to consume oil.”
Stop for a second…. Think really hard, when is the last time news meant anything. Seriously when.
I am not making any prediction on what the market is going to do. From a technical standpoint the S&P 500 is in a crucial area. Anything can happen. And that is the point ANYTHING CAN HAPPEN.
My theory is that there are not very many people in this market right now. There is not going to be a huge amount of people acting in the same matter. But that does not mean that technical or fundamental reason are not going to attract more people. There always is a tipping point, I don’t know will cause it. Sometimes it is easier to find something when you aren’t looking for it.
Be careful, follow your rules.
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