Not sure what it means but I saw that Faber has turned short term bullish on US equituies and $, 3-6 months rally he thinks back to the highs. Took my EEM and XOM puts off this AM and bought some ES and NQ for a very short term run in to earnings/CES hype/stimulus package announcement. Looking around the world right now US equities look like a relative bargain as rates are coming down here but going uop everywhere else, $ has a lot of room to move against EM currencies, and US isn't getting killed nearly as badly by commodity prices as the EM are. Overall I think the trade this year (1st half anyway) is going to be the reverse of last year, ie short EMs and long US equities. Looking to get back in EEM puts as we get back up to the DTL on the weekly SPX.
Over the holidays when half the players were sunning themselves on Caribbean beaches or hitting the ski slopes you issued this post? Take a look now Jan 8, 2008, we have bounced off the lows, market is strong after a vicious sell off during the holidays. Is your doozie analysis still valid ? Come on tell us the truth. Is this still a bear market or entry point on SPX stochastic indicator?
Leave Jreynolds alone.... He took our advice and decided to shut the hell up once he realized he has absolutely no clue whats going on. He just likes to see his name in font
well that parabolic attempt just failed. after a fed guy said the housing slump is the worst he has ever seen and recession could very well happen.
Time to Buy it back, and START looking for long entry... YM 12882, ES 1428 Osorico [1/8/08, 11:13am EST] EDIT 11:31am EST: Inital Long minimal size entry... YM 12847, ES 1422.75 Covered a bit early, but oh well.
Just an update... added to initial Long position... YM @12824, ES @1419 ... you can do the math what average price is. Long is right for a bit, IMO. Osorico [1/8/08 11:55am EST]