I've been playing this as a bottom since Oct. 10. Buying aplenty since the low set in. Have been accumulating QLD (Powershares Ultra QQQQ) like there is no tomorrow. Making very nice profits. Will continue to ride for the foreseeable future. Competency is back in government and the money is flowing into the right places. Consumer sentiment will be improving and the public will be back in force by the Spring. Meanwhile institutions are continuing accumulation as am I. There will be plenty of bumps along the way (today's gains were on light volume), but I am on this for the full ride.
Thanks Surf I saw yours a week or so ago and thought you were a tad early. Happy Thanksgiving to you.
Sure, its a bottom on a n approximate 2o hour chart; 20 can be an important number,LOL. Could be start of a bull market,Paysense ===================================== but not likely, even though have mentioned, before , bear markets commonly retest monthly highs. Posted because Joab doesnt make many bottom ,or top calls. Other reason ,dont think its ''the'' bottom; a]technicals,medium term[50 days] b]technicals , long term[200 days] c]More bear fundamentals than i have [ever seen, not just war on terror],] like Russia[country symbol-bear] sneaking warships into Chavez country................................................................... Peace; thru strength.
happy thanksgiving to you also, my brother. i am notoriously early on calls---often accurate in the macro sense, but am missing the timing. The double top on the VIX was ominouos last week, as you know i am not a big TA guy, but man-- that was an awesome tip off for things to come. the 200 day SMA on the VIX index is in the low 30's--- i wouldn't be surprised if that gets approached. time to short VOL and hang on.... surf
I concur--- there is clear potential here for all time highs by april. the market has limited choice given the govt support and fortunes looking for bargains . there is tremendous money on the sidelines--just waiting.... surf