Wednesday, December 23, 2009
Market Should Go Down
But it's not. Very few bears, overvalued, low put call ratios. How should we play it? I usually play it from the short side and wait for reality. But at this time of year and with the strength of this market, it makes me pause. The market doesn't want to go down despite indicators flashing danger. I would definitely not be a buyer here. But I can't be a seller fighting this action every day.
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8 comments:
I'm with you on this subject.
I've had some nice trades lately shorting the gaps.
However, it is very clear that the latest pullbacks were very weak, compared to what we used to see before.
I am interested to know your opinion about gold and silver stocks.
I am hesitating to go long anything at these levels. However, these stocks took quite a beating lately, and their prices may be attractive enough.
Your thoughts ?
I don't understand what all these people who refer to overbought indicators and oscillators are talking about.
What were those indicators telling them from January to March of 2000?
I think the chart looks like it;s coiling to shoot higher. We didn't go right back down after this last move up like the last 4 times. Something is different this time and the charts tell u.
So here we are 1120. 1135 I buy DRV.
SHORT ATHX 3RD DAY OF RUN
New high on the market.
R U gonna get short tommorrow if we have a pop?
I'm almost certain we're gonna rally tomorrow.
Of course I could be wrong. But I could be right too.
I am short term bullish on gold and silver, but I see those markets filled with bagholders who have bought in at higher levels. So I am playing gold just for a bounce, I think its got lower to go early next year.
As for the stock market,I don't think we're going to gap up again, but I am not trading it. I will short if we get to 1130, otherwise I will just watch.
Good call on ATHX!
Thanks dawg
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