Monday, February 6, 2012
QE3?
We have one strong jobs number and we've got a lot of traders expecting the Fed to delay or even not do QE3. I strongly disagree. If there is one thing that you cannot do is underestimate the desire of Bernanke to juice financial markets. He's not done yet. Not by a long shot. Unless you see unemployment number back in the 6-7% range, you will not see this money printer stop. They are not satisfied with S&P 1330. They want 1500 and higher. Only when S&P goes to new all time highs will they stop printing money. Gold will go much higher. Dollar will go much lower. Stocks will go much higher. Book these numbers for 2013: S&P 1500, Gold 2200, and Oil $120 (NYMEX).
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3 comments:
Ol DAwg out of TVIX @ 14.18 today
took a little hit.
Avoiding shorting the index for now.
I say 12.50 is the point of entry
I just did a stock scan. Because I only trade the high flyers, IE the highest gainers and losers -- the hot money stocks where there is some major company news, I save a bunch of stocks in a scanner and then make a new portfolio once those stocks get played out.
I"ve been looking at these scans dating back from Thanksgiving. Most stocks I see, the graph looks great.
Looks like they are either breaking out, broke out and are about to make a run.
When stocks look good for a buy to the average market chart technician it is time to sell.
I give this market about 5 to 10 trading days tops before it rolls over.
-Ol DAwg
If we roll over, it will be for only a couple percent, I don't see a big dip for quite a while. Trend is too strong right now and we shook out most of the scarecrows last fall. US stocks are in strong hands right now.
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