The Bulls are having a very impressive 2012 season so far! They have been typically playing on the road in very hostile environments. They thrive as Road Warriors, taking on and “us against the world” attitude (climbing the wall of doom). Each game, when it looked like they needed gut check as we’ve navigated this channel since the June 4th lows, they’ve come up big to maintain control and get a new set of downs.
Yesterday the bulls smelled blood, as they were leading the Bears 35-14 on the verge of putting the game out of reach. However, the Bears made a goal line stand before they fully got taken out on stretchers. The Bears didn’t let the Bulls power into the end zone and break and close above S&P 1407 on its way to year highs of 1415-1422.
The Bears made an impressive defensive stand but they still have to march 99 yards down the field. The S&P is up almost 11.6% and the Nasdaq is up 15.8%, Bulls fans are feeling good. The Bears have the ball deep in their own territory. In order for them to get any respect they need to put a powerful drive together. In order for them to not go 3 and out- they must close the S&P below 1392-1395. If they can do this, perhaps their players get a little life and then they can head to mid field which would be about 1382-1385 (the 21day moving average).
It’s late in the third quarter and they are running out of time. They need to get something going soon, otherwise Bulls will get the ball back. The next time the Bulls go in for a score they will be able to walk in easily and run up the score, embarrassing all participants that bet on the Bears. The players on Bears team will have a hard time finding a roster spot for 2013. They had all the conditions to make a Super Bowl and showed no life.
Some commentators think the Bulls strength could be attributed to performance enhancing drugs, but it’s hard to prove. Perhaps they just ate their Wheaties, were well coached and played to win!
The Bears will always say, that next year is another season, but some of them will be retired or too injured to step back on the field.
Disclosure: Scott Redler is long AAPL. Short SPY