TVO Market Barometer 12/16/14

TVO MB 12-16-14b

Imagine you’re some hedge fund manager. It’s nearing the end of the year and you missed out because you doubted the rally and didn’t BTFDs. So what’s left to do? Short oil of course! Don’t worry, the market will be back to normal next year, no harm done… uh right. In any case, there was a strong showing of dip buying today, mostly on SPY. Don’t be fooled by failed rally attempts, though. They often mask the accumulation that’s going on under the surface, hence the phrase “Bear Trap.” Oh and when those big guys decide to cover their shorts on oil, watch out. -MD

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