Dead cat bounces in the stock market never end well for the cat
Its starting to look like Bernanke is throwing cold water on what started off yesterday as a market on-fire. I’ve always thought that this market probably wasn’t anything more than a dead-cat bounce, but it was a bounce that we could make some money off of for sure.
On the four positions I added long on Friday, I’ve closed out half of them for +3% profits on each. I’ve also added another position today (long), which has done a good job of holding its own, but nonetheless, if this market can’t make a solid recovery and erase the losses we are currently seeing, it’s Sa-yo-na-ra Jack to the Cat!