pause day ?

Nov 19- if you take a look at the SPY, we had a rather nasty down day, but not as nasty as it could have been, and it's sitting on a support level. Similarly for USO, we're sitting on a support level. While I think we still have a little more of a down draft to come, (108 on the SPY, and 38.4 on the USO), that's about all I can expect for a downmove because this bull does not want to die, and it has the FED on its side... so for the 20th, I expect a pause day, because of an not so steep pullback today, and then a continuation of a bit more of a down move.

since I really don't have time to play shorts, I think I'll wait for a bit more of a pullback before going long. I keep hearing about, "nasty correction coming"... "we're way overbought"... I do agree with that, but somehow I don't think the FED will allow the market to crash right before Christmas shopping season... for now the big boys are just playing games... notice how BAC decided to say today that INTC won't be doing too well? Is it a coincidence that they published some scathing notes on INTC just when the SPY was hitting 111 resistance? Why did they wait until today to say that? And are they really saying something that we don't already know? All that is happening based on my speculation is to shake people out, so that the big boys can scoop shares for cheaper, and sell it back to the little fish who will blindly chase it up higher before they play some more games, to shake people out. The big boys are doing the right thing... buying low and selling high... for this to work, there's got to be dumb money that is willing to buy high and sell low.