Oops. I realized that I am such a short-term trader, that my making any prediction like "3 weeks" is a no-no. I may become bearish in a day or two, or remain bullish for a long time. Only the market/the charts can tell us what to do. I got the 3 weeks by trying to extrapolate the top on the layover chart that showed to similarities to the 1929 crash to the market today. Also, next jobs report in about 3 weeks.
Finally some sense Wide Tailz. We are going DOWN. A 100 point rally in two weeks? Call me crazy but this POS is gonna plunge
I added more to my position @20. It's going to the moon, and good luck with your sub par gain for this year. I will enjoy my 100%+ return as I did last year.
No contrary indicator is wrong 100% of the time. Even tradingjournals has a new model that has him batting .300
Looks like this guess played out, but I doubted it mid week and sold longs then went short. Oops :eek: State of the trendz:
1) no sign for the bear market correction yet (40 to 60% type of correction). (it always shows up consistently since 1929). 2) generally, earning is ok. GDP is expected to grow about 2% for this year. 3) FED is being supportive. 4) institutions are buying (especially on last Thursday and Fri in the face of not so good news). The difference between today market and yesteryear market is the media factor. It's double edge sword. it cuts both ways (up side and down side), as you know bad news travels fast!!! a little incident such as Bernanke checked into hospital due to irregular bowl movement or rectal examination could be an market event and sensationalized by media around the world!... Hollywoods has made us desensitized and bored.
Legendary investor George Soros has been stocking up on S&P 500 put options: http://blogs.marketwatch.com/thetel...bet-on-the-sp-500-to-the-tune-of-1-3-billion/