Position: EDZ
This market is too extended to the upside. I am picking on emerging markets (Again) because they continue to lag. What does that say about the broader market? Not good; in a real bull I think emerging markets would lead, not the DOW for pete's sake. Inexplicably, we still have commercial real estate out performing as usual. I hate to inject my bias here but I have to think the fed is buying this shit up. That is the only explanation. This isn't me going full bearish-just playing for up to ten percent downside if I'm lucky. Keep in mind that is by utilizing a triple leveraged ETF. To me the weekly's show nothing, the daily's are overbought and the intradays are ridiculously overbought. I don't pay attention to news or seasonal bias info. Supposedly we should be rallying here; to me thats like saying we had a good crop last year so a good crop is expected this year. Whatever.
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