I told you I like CASH!!!
In fact, I told you on Friday morning in our Report titled: "TGIF – Silly, Low-Volume, Pumped-Up Week Finally Ends", saying:
"Volume has been anemic this week too with, 55M SPY shares trading on Monday, 67M shares on Tuesday, 59M shares on Weds and 68M shares yesterday vs an average volume of 101M shares so about 35% below "normal" volume, which is already close to half of last year's volume. Why is volume drying up like this? Because stocks are more expensive so the same money buys less and less stock and, because the economy isn't really growing – there is no more money to pay for the stocks – just a lot of idiots SPECULATING that there will be money to pay these ridiculous prices one day, so it's not important to actually earn any money because the greater fool theory will fix everything.
"The greatest fools, of course, are the last people to buy at the top – we call them bag-holders and I have been saying all week that this test of our Strong Bounce Lines is a good time to dump your stocks on the bagholders that are coming in and get back to CASH!!!. Again, I can only tell you what is likely to happen and how to make money trading it – the rest is up to you!"
So far this week, the markets are down and the Dollar is up 1.5% and still cimbing this morning at 93.50, that's putting pressure on the indexes and commodities which makes people panic out of those and they then demand more CASH!!!, which drives up the price of Dollars (as they get scarce) and the cycle continues. People are also trying to trade in their dying TBills for cash – so even more demand for cash. Thank goodness housing is still dead or the Dollar would be back over 100!
We're thrilled to have a nice little pullback and we even bought a couple of stocks yesterday but, on the whole, we're even more thrilled to be mainly in CASH!!! during this period of market uncertainty. You…