The daily trading in this market has become very reptetitive during this rally. The general trend has been a big morning bump (usually on short covering) followed by 4 hours of consolidation and then another big ramp up on afternoon short covering. The shorts have been particularly stubborn over the last 8 weeks as they try to step in front of government intervention. Will we see another afternoon rally? Have the shorts learned their lesson yet? Will we continue to see this market drift higher until the government gets out of its way?
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.