Plainly, Pisani is not a reader. Otherwise he would know, "Prices can fall of their own weight, but it takes buying to put them up."
That said, though, it nevertheless appears more time might still be bought...
Friday's relative strength resurgence following Thursday's first sign of underlying weakness suggests the fourth wave of five waves up from Tuesday, October 4th bottom might still be forming. Should this prove the case, then there also is a case for supposing that, a "rising wedge" might form in the fifth wave position. If ever there was a move that went "too far, too fast" (as typically occurs prior to formation of a rising wedge), the market's advance off October 4th bottom abundantly qualifies.
Completion of the market's counter-trend rally off October 4th bottom could consume much of this week's trading. However, this will leave plenty of time for October to become the S&P 500's sixth straight month down.
Finally, Shemp's consternation over Angela Merkel is odd considering that, even ratings agency Fitch apparently understands big haircuts are in the works (suggesting Germany's demand that, private investors be forced to swallow Greek sovereign debt losses is a likely near-term outcome). Thus, I wonder whether Cramer's exercise in playing dumb could be driven by a reality in which not even puppies and kittens are safe...
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