Tuesday, February 8, 2011
Big Opportunities Ahead
We are building up a huge reserve of downside fuel as the market creeps higher every day. It will not manifest itself right away, because these kinds of super strong trends take a long time to die out. But when they do, the market convulses and forms broad tops. These broad tops will have a number of big up and down swings and then we'll go back down for good. It is probably at least 5-6 months away. By that time, the ES could be around 1400. We'll probably have a 5% correction in March sometime and then keep going higher to 1400 by summer.
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5 comments:
are you holding onto your shorts for now ?
Yes, I am holding short but I will cover at break even, around 1307, which is the gap from Monday.
I agree with your view that we are heading higher with a pullback ..at some point. So why don't you go long and average lower on the pullback? I have been doing this, of course I'm up $$ while I wait for a pullback.
It's a no brainer and it works. Your missing ALL this upside waiting for a small pullback. It's not worth it.
And if your in the camp that we are going to double dip or get some 20% correction, well your never going to make any money.
The recession is over. The economy is getting better.
That last statement is the most logical thing I've ever read in this site, but false pride and stubbornness is hard to overcome sometimes.
I will go long on a pullback in March if we go down about 5%.
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