Some people are saying that last week’s Wells Fargo & Company news puts this rally on much firmer ground. That’s exactly what the institutional investors want you to think. Sucker.
The institutions with their media partners are leading bull suckers into an ambush.
Make no mistake. Institutional snipers sit behind their trading desks waiting for the perfect time to pull the sell trigger and wipe these suckers out.
When are the snipers going to shoot?
Anytime now.
With earnings season, or should I say losses season upon us, the bears will gain confidence while the bulls will lose it.
We haven’t even approached the sniper zone yet.
Bulls could start getting sniped as early as next week when horrible earnings announcements hit.
Look for bodies to really start dropping between 943 and 1050.
Until we break about 1050 and have two days of confirmation above this level, this “rally” is nothing more than a bear market bounce.
Anyone who thinks otherwise, don’t argue with them, just take their money.
Between now and the S&P hitting 943, close out your longs. Then at 943 and higher, short the S&P 500 with the institutions and take your share of money from the bull suckers. I like the ProShares Short S&P500 ETF. To play this more aggressively, consider the ProShares UltraShort S&P500 ETF.
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