Wednesday, January 18, 2012
Topping
We are reaching the peak of US earnings season, and with it, a typical pattern of topping out as the earnings come out. It is a strong market, so I don't want to enter into a short too soon. Perhaps when we get some of the big tech earnings come out, we may have a sell the news reaction. And I'm sure there will be some "spooky" headlines thrown in from Europe for the scarecrows to flee. That might be the dip that one would use to cover and reverse to long. Nothing high percentage yet, perhaps 60-40 odds.
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4 comments:
I'm having a hard time putting new money into the market when it has risen so much so fast.
I guess I'll just have to miss out on the rest of this rally.
I agree with MO. There will be a top and the market will reverse and will go down. And once it went down after some time it will turn and starts going up again.
topping out today for sure, sucked in the 1300 crowd on SPX, one or two session up here and locking in some profit, funds globally need to put up good Jan figures after last year whip sawing
..ok you were wrong for sure....haha
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