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[hedgehawk]

Been reading the posts over the last week, general bullish bias to most posts. I think anyone can look at the market with the Dow at 12,900 and say it is going higher. Most posts are witty one liners that hint market is going up. I am not sure what to make of it, other than the DOW has been up 7 days in a row. Mike Burk did some nice work this weekend analyzing 7 days up in a row on the Dow and how that index behaves after such a run. Its only happened twice in the last 20 years where there have been two 7 day up runs in the Dow in a single month. He also shows how there were brief but sharp declines in 10/2006, 6/2005, 3/2003, after 7 up days. In 9/2000 had 7 up days but it rose higher for one month then sold off. Another nice piece of work, by Kevin Haggerty at Trading markets dated 4/20 shows the S&P 500 with 1,2, and 3 STD DEV's. Currently the S&P sits just outside the 2nd STD DEV at 1480. My point is that the DOW or other indices are not going straight up. Statistically, we are due for a correction, the current 7 day run up in a row on the DOW only happens once every two years so expect a rough week this week. I don't care if futures are up either, they are manipulated. I am short the SPY and DIA and some other high beta stocks. Sorry folks, I can not pinch my nose and buy this crap. Not after 7 up days in a row.

[hedgehawk]

Closed several short positions for nice profits. Looking to do the same tomorrow. Weakness should last for about a week before next leg up.