we`e starting to ride above the zone here & target stops........with that being said....trying to nail a "turn" in the market is one of the most difficult trades to pull off......very rewarding but very difficult. i`m looking for a sideways to up jam job all summer long here...... power remains North.
Who knows where the top is, Im sure they are going to push the s$p to 1000+ however, what can really justify this upward move other than just a massive bear market rally. Remember the markets take the stairs up and the elevator down. Avg bear market rally is 56%, we are getting a bit close. Sold all my DIG and BGU today. Will buy both back below $30.
TO hell with this noise. time to start selling the living ape out of this market. ninja system is going hog wild with a lot of sell signals. On the 3 day candlestick an obvious gunshow pattern is forming so I'm looking to start dumping on the next barrel extension. I think tomorrow SELL SELL SELL. This market is wrong. every day I think I live in a world gone crazy but i'm glad the chivas and ganja keep me grounded. who else is going short now??? Keep ridin' the dragon as long as you can, like my old friend don bright taught me.
Even if you sell your long positions for a profit and they jump another 10%, 15%, or even 50% I wouldnt worry because when the market does peak out not only will you be able to buy the same stock you sold today but you will be able to buy it back a lot cheaper. How much greedier can one be, sell now and buy back cheaper, you will be able to buy S&p 950 many years from now, the market ISN'T going to new highs anytime soon.
The S&P will pivot back a time or two to 950 to test out the new floor then it will eventually surge to 970 where there will be, again, a stage like we experienced with lots of chop and doubt. Then we will once again surge and move upward to my ultimate target of 1070. If it doesnt stop there, then it will go to 1250. 1250 by October.
Im being serious. When have you seen a chart like this simply turn around and dump. They are going to use every chance they can get to buy the dips until the price gets up to well over a thousand. There will be dips and chops along the way, but in a few months we should be reaching 1250 based on technology and commodity plays. The recession is basically over. It will take about a year for them to start hiring again, but its over and the market confirms it. Like I said in a threat that got moved to chit chat, buy those dips!!! 100% up room to go. No risk.