Posted by robincage1 on 8th of Apr 2010 at 10:14 am
this is the 1st pullback in the market that i do not see one
post on shorting or tops. (aside from the hedge mentioned
last night in the newsletter). a change in blog sentiment???
What that means is either no one is looking for himself and
instead is watching someone else for the clues, or no one believes
that the top is in and that the wave C up -- after this wave B down
is over, according the the EWI -- is still to come. I hope it's the
latter and everyone is very smart in picking up that observation
:-)
We're at some intraday support. It wouldn't surprise me if they
push the markets up one more time to frustrate the shorts before
the market finally has a decent pullback.
What makes you think it's a bear market? LOL! By mechanical
definitions-- the price is above MA(50) on the monthly chart is one
of them, price is above MA(200) on the dailies for over 8 months is
another -- it _is_ a young bull market. That it may be over next
month after a deep slide, is another story; and unless you are
privy to the PPT plans, that projection is a guess like anybody
else's.
Where were you for the last 12 mths? A bull is a bull,
regardless of the fundamentals or what the Economists think.
Remember, the market is always right.
Anyway it's not that too many of us are short, it's that we know
the shit will hit the fan soon and why, whereas the normal man in
the street who goes to work and never watches will never understand
what happened to his 401k when this tanks or why
that's what I thought in August too. You're right, the
market should fall, but all bets are off on when. We have
little real conception of the enormous amount of liquidity
being pumped into the system by the Fed and all these underhanded
government programs. Meredith Whitney months ago said she's
never been so beasrish, the banks are basically insolvent, etc
etc. but then said she had no idea when the market would drop
because of the intervention.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
pullback
Posted by robincage1 on 8th of Apr 2010 at 10:14 am
this is the 1st pullback in the market that i do not see one post on shorting or tops. (aside from the hedge mentioned last night in the newsletter). a change in blog sentiment???
also, no mention of wave counts........
Title: No shorts on the
Posted by junkie on 8th of Apr 2010 at 11:31 am
What that means is either no one is looking for himself and instead is watching someone else for the clues, or no one believes that the top is in and that the wave C up -- after this wave B down is over, according the the EWI -- is still to come. I hope it's the latter and everyone is very smart in picking up that observation :-)
We're at some intraday support.
Posted by cw12 on 8th of Apr 2010 at 10:27 am
We're at some intraday support. It wouldn't surprise me if they push the markets up one more time to frustrate the shorts before the market finally has a decent pullback.
Title: Looks like everyone is
Posted by panaspor on 8th of Apr 2010 at 10:23 am
Last night's letter said to watch 1175 area. At this time it looks like it is holding and could easily bounce to a new high. I'm waiting it out.
Perhaps everyone has learned the
Posted by tomoboyle on 8th of Apr 2010 at 10:21 am
Perhaps everyone has learned the hardway that you don't short in a bull market.
Or they're broke from shorting.
What makes you think this
Posted by Palladin on 8th of Apr 2010 at 11:48 am
What makes you think this is a bull market?
Title: to Palladin What makes you
Posted by junkie on 8th of Apr 2010 at 12:10 pm
What makes you think it's a bear market? LOL! By mechanical definitions-- the price is above MA(50) on the monthly chart is one of them, price is above MA(200) on the dailies for over 8 months is another -- it _is_ a young bull market. That it may be over next month after a deep slide, is another story; and unless you are privy to the PPT plans, that projection is a guess like anybody else's.
I am being cynical here to illustrate the point.
Strange you should ask this
Posted by 888888 on 8th of Apr 2010 at 12:00 pm
Strange you should ask this question.
Where were you for the last 12 mths? A bull is a bull, regardless of the fundamentals or what the Economists think. Remember, the market is always right.
Title: inflow of money to
Posted by junkie on 8th of Apr 2010 at 12:19 pm
Because of fundamentals. Inflow of money to the market, irrespective of the long or short side is a bullish fundamental.
BPT has had 95% long
Posted by matt on 8th of Apr 2010 at 12:11 pm
BPT has had 95% long trade ideas on the watchlist for 10 months, play the trend until it reverses, don't over think it.
You could be right... there
Posted by 888888 on 8th of Apr 2010 at 10:33 am
You could be right... there are just too many shorts here on the blog...(never a good sign to short)
I guess that means the
Posted by keithbob on 8th of Apr 2010 at 10:20 am
I guess that means the top is in :-)
I agree
Posted by parki48 on 8th of Apr 2010 at 10:48 am
Anyway it's not that too many of us are short, it's that we know the shit will hit the fan soon and why, whereas the normal man in the street who goes to work and never watches will never understand what happened to his 401k when this tanks or why
the top is in
Posted by Michael on 8th of Apr 2010 at 11:58 am
that's what I thought in August too. You're right, the market should fall, but all bets are off on when. We have little real conception of the enormous amount of liquidity being pumped into the system by the Fed and all these underhanded government programs. Meredith Whitney months ago said she's never been so beasrish, the banks are basically insolvent, etc etc. but then said she had no idea when the market would drop because of the intervention.