People buying U.S. equities are mere speculators at this point. What is the reason to buy? The only answer I find is because equities are cheaper than they have been (bottom picking). If this is the bottom and you are buying, then congrats to you! I see no catalysts to drive stocks higher. Institutions won't be buying until next year...some may enter this fall depending on how much damage Obama will do to the markets.
I'm keeping trades intraday as usual primarily on the short side. I really like natural gas for the long term.
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King is cash.
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