I was looking through my posts since the market topped in May and I have been consistently cautious on global markets.
Today, I find few bastions of strength save the drug stocks and select utilities. Not a great reason to be long or on margin at this point.
I have added some traders to my blogroll over the last few months that do short stocks. They seem to be the happiest and busiest market commentators at this point.
Based on my trusted reading sources, things do not look good for global equity indexes as most trends are gone and the best trend is short technology.
Degraaf from Lehman has a good daily missive on the trend status of the markets:
Time to be extra conservative if you don’t have an edge!