comagnum's a good one to ask but with all due respect to him, you're not being fair, it doesn't matter what HE says, its more important what is YOUR plan. So, have you decided what the indices would have to do before you get out? And do you know how much that will cost you as a % of your account?
Joe Bats from Gruntal... Used to have lunch with him at Red Oak Diner in Fort Lee in late 90`s... RIP Pisan... https://www.thestreet.com/story/11084445/1/stifel-strategist-battipaglia-dies-at-55.html
Do you think we are in for a market correction or is he market going to keep cranking? I sure don't pick tops - just taking the setups in front of me which are mostly long on the equity markets. Bull markets & bubbles always go a lot further than most people ever think they will - at tops the range expands making it very hard to short. Pros in general will wait for the first down leg which usually will retrace from half to two-thirds of the down leg and set their shorts at the apex of the retrace. The fall after this retrace is spectacular - you will see the bids just vanish at times. No reason to be in a hurry to short when you have a plan. In the dot.com bull Nortel (NT) was considered a core holding & rather conservative tech play. Bubbles always reverse of all of the gains and than some. NT first down leg retraces just over two-thirds & hits resistance providing an ideal place to short - historically this is a common bull top, retrace, and plunge.
'the godfather' of technical analysis' Is he running a chart crime syndicate or something (never heard of him)
%% I appreciate his/your comments. While i prefer any trend to be broad based, who gets paid on all NYSE stocks LOL??Nasdaq/NasdaQQQ were much stronger as Comagnum chart noted.
No I have not but the point is very well taken and I appreciate that. I invest me own money and definitely more of a plan.