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Notes to myself, possibly of interest to others.
-- Bill Northlich

Monday, January 5, 2009

Sucker Rally?

Everywhere I read and turn, even on the Buzz, the consensus is that the lows are in, we are headed to S&P 1050 and it's time to be an aggressive buyer. Even the perma bulls that turned cautious after getting their heads blown off are suddenly bullish again.
This makes me suspicious of the call. Either we get the Great Sucker Rally to 1150 or it dies right here around 950-960, an important spot dating all the way back to 2003.
In any event, I cannot agree with the consensus.

---Bennet Sedacca, 1.5.09 (Minyanville Buzz and Banter)

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