barons magazine cover---- oh noooo !!

Discussion in 'Trading' started by marketsurfer, May 3, 2003.

  1. "the bull is back" screams the headlines on barons this week. this causes me and my bullish stance much consternation as i am well aware of the headline indicator theory. however, i still say DJIA 9000 by end of year. technically it is impossible to project monday's action at this time.


  2. Babak


    hehe he :D

    Check out their Guru poll! :p
  3. Maverick1


    IMHO, it's just not worth being long at current levels. The risk reward of the trade isn't there and those who were long from lower levels have probably scaled out with only a fraction of their position left on a trailing stop.

    Sure, the market can do anything it wants. 9000 maybe, but is the risk here worth another 500 points with entry around 8600?
    Tough call.

    VIX stretched out, VXN at multi year lows are major negatives. The Barron Cover doesn't help either. However, the bond seems to be breaking down and internally many stocks are setup as buys.

    Overall though, I think we're getting closer to a change in trend soon. We'll let whatever fuel is left in this, if any, dry out and then we'll have a much better setup to work with.

    My $0.02,
  4. Hey Maverick1. I think you know my position on that ;)
  5. Until the trend changes definitively, buying the dip will work.

    The programmed monkey, who buys on each and every dip, is back in control. Ring the bell, gap it down, dippers come in.

    I don't think we see a final top in this cycle until the "controllers" are convinced they can't suck in any more new or sideline money.

    We now have to look pretty far back to see key support levels that would signal a reverse.

    The game is rigged....follow the riggers.

    My vote is for an extension to maybe 1550, a pullback to 1400, trading range for a while, push to 1750, then the fall swoon.

    This is still just trading in a relatively small range, compared to the past 5 years of the market.
  6. Holly shit......a new bull..........well I am betting on bull-jerky. Put Spread the SPX 880 to 840. Cash out this summer and get some more teeth capped.:D
  7. MOOOOOOOOOOOOO!!!!!!!!!!

    If I remember before I cancelled my subscription, Barons correctly called the bear market, we are either now leaving or still in, many times and at least a few years early. They believe in the old maxims of economic forecasting:

    1. If you give a number, don't give a date and if you predict a date, don't give a number.

    2. If you predict, predict often and sooner or later you'll get it right.

    Doug S

    PS-The main reason we have economic forecasts is to make astrology respectable.
  8. This is the type of market where you can feel like a genius and an asshole half a dozen times each and every day...
  9. Rs8.5


    And I do!!! At least half a dozen times. Usually more.

    The thing is to not let either feeling last long enough to affect your next trade.

  10. perma-bear as always.
    #10     May 4, 2003