thursday , page-17

Farsight - The bears kept shorting New York from the March low. The S & P hit new highs the night before last so a lot of the shorts would have covered then. Only left those bears that gave up when the Dow hit a new high last night and then covered. So the market should have just about cleaned them all out by now leaving a vacuum underneath. Need to watch Shanghai today as the uptrend there is unbelievably steep and if it breaks then the top is confirmed.