That's what I'm hoping for. Took my position Friday. http://www.elitetrader.com/vb/showthread.php?s=&threadid=193604
You're all in dream land. It's possible, I suppose, but we've been here before. It always gets bid up before open. If you guys are expecting this to fall, it won't. Not unless you get randomly lucky.
p. 25. Prechter 2nd paragraph, line 13: "a herding impulse governed by the phylogenetically ancient, pre-reasoning portions of the brain."
Yes it is. These are permabear top calling threads and we've seen many of them since March last year. It shouldn't be a surpise to anybody that a lot of retail traders has been shorting this rally since day one and will most likely start buying when the bulls are over with them. Shorts may be right this time but I think you get my point. Best of luck to all.
It's true there have been fewer short opportunities since Feb 8th. Still many profitable moves, however, the cheerleading by a few longs would certainly fit the Prechter statement above. GLTA
"cheerleading" should not be confused with "resignation" to follow the market despite how it "should" be performing. We're all aware how dismal things are on the economic front. We're all aware how bad the situation is with Greece, Dubai, Iceland, Ireland, the UK, the US, Japan, etc. We're aware of how overbought the market is. We're aware of valuations. None of it matters! It's rigged due to free money. If you're looking for a free market, it left town over a year ago. Sorry, pal! The continued insanity of banging one's head against the bear wall just because the market HAS to do "something" is just that - insanity. Just continue to ride the market up and make money until you don't. I'd rather have 200 winning days and one loss than 200 losing days with one win just to say "See? I told you." What part of manipulated is so hard to understand? Hope everyone bought the "dip"!