It's Official. 11 of 13.

Update: The S&P is within fractions of giving up all of its gains since the massive blow higher on the 12th and 13th as I outlined in the July 14th post below. By the close, we will have given up all of the gains barring a miracle.

Quick Comment About The Speculation This Week

Even though I said the last post was going to have to be a place market while I was traveling, I just had to post this after reading some perma-bull today stating that the move last week was extremely bullish. I thought I'd run a few quick numbers. 10 of the last 12 squirts that we've had similar to the last few days retraced their entire gain within ten days. In addition, that move was one of the thinnest speculative moves in over five years. In other words, the move late last week has a high probability of being gamesmanship for the unsuspecting public. Oh, and for Jim Cramer who was full of giggles. Let's see if this move makes the statistics now 11 of 13 or 10 of 13.