Monday, July 11, 2011
No Heroes
A strong market will give you one chance to buy a gap down and win, but not so often a 2nd chance right away. I think this is the real deal, and there is real selling here. I would not fade the down move today. I am watching on the sidelines here, may want to buy the dip tomorrow. But I am not very bearish so no shorting either.
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14 comments:
oh we'll go up start of week. So full of bs.
Ooops sounds like someone went long... quick sell and cut the loss now.
Seriously grow up... it is the logic and not the conclusion that counts in this blog
Expect huge downside and upside volatility remainder of month. Let the debt ceiling fireworks commence
Rest of summer should be a short term daytrader market. Buckle your belts and sharpen your scalpels
I just think this is a pullback in the intermediate uptrend. The upthrust off that kind of bottom usually lasts from 5 to 8 weeks.
Did not last 5 to 8 weeks in Dec 2007. But A/D line was making lower highs vs now higher highs.
1315-16 technicals
then 1300.
Not looking great at the moment. 2% down after that jobs miss is not really a good sign. Nobody cares about jobs, they look back. If the market really wanted to go higher the dip would have been bought by now.
Not sure how realistic it is to expect new highs unfortunately.
so far so good ..it is holding
All nations will be bailed. Debt ceilings will be raised many more times. It's all timing game. Days leading to the event market will look like it's going to zero. A week later it will be making new 52 week highs. There are many overlevered funds, overlevered traders and now overlevered retail investors.
Back end of bull markets into the next bear are the most violent
I started my buying today. Just a little. I should be 50-65% long by the end of the week.
Don't want to get long here. Wait a few weeks.
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