The Hidden Ball Trick?
7th Inning Stretch: Did we just witness the old-school hidden ball trick in today's market activity? Just yesterday, we talked about the potential of a strong move downward as a correction from the overstretched equity market, yet today the market nearly recovered what it lost. Don't be fooled though, our technical analysis is still suggesting that and we are prepared. As mentioned in yesterday's post we're holding defensive positions and today we made another move by getting out of one our of few equity ETF positions. Just like in sports it's never good when the players become complacent, so don't get comfortable on the base paths and you better watch the ball at all times or you might end up faked out by the sneaky infielders. - The Closer (Tony)