Once again, the PPT gets credit for the rally:
Mad props to Richard Suttmeir for getting this right . . .
Hat tip ZeroHedge
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight. ~Jesse Livermore
According to the CFTC weekly data for the week ended Tuesday, net shorts in the euro fell by 38% from last week's record high and are now at a 6 week low. Net shorts in the pound moved up a touch to just shy of its record high. Net longs in the Australian$ rose to the most since May '08 and net longs in the Canadian$ rose to the highest since Nov '07. Gold new longs fell to a 4 week low. Net longs in crude rose 14% and are just 12k contracts from a record high dating back to...
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May 19th, 2009 at 6:16 pm
Jack MacHugh has also been on to this one. Where the banks lead so will we follow.
May 19th, 2009 at 6:17 pm
I’ll sure be visiting valueengine.com
May 19th, 2009 at 7:23 pm
Sounds like Dan Shaffer got it right. Richard Suttmeir? He’s talking about the market being undervalued 30% to 40% at the March lows, but now it’s overvalued after a 40% rise? Is this the kind of math that Lenny Dykstra learned from Mr. Suttmeir?