This isnt an immature gloom and doom post, but a warning to all who have long positions. Typically, the market corrects twice a year much like it did in May of last year. If you study the charts and indicators as much as I do, then you know that the turning point is right now or at least very near. . .
Based on my telltale economic indicators, I would agree with the fact that we are on the cusp of at least a larger correction if not an absolute longer term sale. All my signs are pointing to a recession at this moment. Oh how I would love a large gap open higher to sell into.
eventhough I still say 100% up room to go with ZERO risk... I still have to wonder when or even if the reality of MOT, AMD,INTC, SAP, and CSCO will hit the charts????
Did you take a look at RACK? That is the reality of being overbullish. 6 months of gains wiped out in a few hours. However, I welcome huge corrections with open arms. I would so love to go back to June 2006. Maybe this will be a second chance.
Rack down a massive 31% in ah trading. Wow. That's exactly what I was thinking. To be honest, there do seem to be a lot of nasty warning surprises so far.
sorry guys I think we are in a prolonged short squeeze until proved otherwise, probably 16k on the DOW. Right now I'm trading ATS, otherwise I'd add to longs based on this thread tommorow.