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[arbman]

I did not sell short because the internals were too strong for the sell off, but I did not have the guts to buy either and it looks like the market simply flushed the weak hands on the news in AH and tries to continue higher now. I still think it is a topping market until August but with more upside... ... and the bears may still have to cover in panic here. Almost all of the stats I am looking at says higher for the next few weeks, but these 20 point trading ranges and 40-50 point pull backs are not easy to trade... But the short term direction of the internals still appears to be up for 2-3 more weeks, perhaps it only plays out as a trading range.... We will know shortly if yesterday was only a GBD... Best of luck.

Edited by arbman, 14 July 2011 - 07:56 AM.