Allow me to play devil’s advocate (reality is, I’m agnostic about what comes next). Currently, a large number of growth stocks have replaced the traditional flight to safety stocks and are leading the market. In addition, the dollar whipsawed out of a bull trap last week and the long term trend remains down (short answer here, don’t fight the fed). On top of all this, the Naz is looking at 10 year highs and thus far hasn’t been showing traditional signs of distribution. The kink in the situation is of course Europe and since the market hasn’t yet started buying the news, price action remains choppy. All it would take is one strong buying day to resolve this though.
Just overcome the ELFs and sell high and buy low. Don’t look for crashes. Just look for 19-50 point moves. Again, I have never heard or known of anyone who was short before a CRASH. The ELFs make sure of that.
I suspect the re-booting, shifted the markets entirely from a massive collapse stage to a neutral position.
I do not know if it was the White brother hood (the good guys) that mitigated a collapse or not. But some major shift has occurred. I am totally out of my shorts from early Friday morning. As far as I am concerned, their will be NO COLLAPSE at this time. Can we get a run off in the markets later this week of 40 to 80 points. Yes we can, but over the next few weeks I certainly see 1305 in the near future. I hate to say, but we will have to wait until 2013 before we see a sizable correction in the markets.
I certainly believe in Zstocks views on the markets. He had posted earlier.
The dollar can help offer clues as to where we go next, right now the dollar says we go higher. But lesson’s learned from last week say don’t be too quick to take the dollar’s clues as they can change in a moment: http://srsfinance.com/articles/stock-technical-analysis/uup-behaves-like-lovesick-nerd/
Allow me to play devil’s advocate (reality is, I’m agnostic about what comes next). Currently, a large number of growth stocks have replaced the traditional flight to safety stocks and are leading the market. In addition, the dollar whipsawed out of a bull trap last week and the long term trend remains down (short answer here, don’t fight the fed). On top of all this, the Naz is looking at 10 year highs and thus far hasn’t been showing traditional signs of distribution. The kink in the situation is of course Europe and since the market hasn’t yet started buying the news, price action remains choppy. All it would take is one strong buying day to resolve this though.
Just overcome the ELFs and sell high and buy low. Don’t look for crashes. Just look for 19-50 point moves. Again, I have never heard or known of anyone who was short before a CRASH. The ELFs make sure of that.
ES Chart Analysis: http://niftychartsandpatterns.blogspot.com/2011/11/s-500-futures-analysis.html
Many instances of dark cloud cover on the mid cap minis. Not saying that can’t be overcome by Crazy Ben, but something to watch.
Maybe the Fed will be destroyed by fire in 2011.
Tomorrow 11-14 is a Pi date from 2007 high and 2008 crash low……
Check out this video entitled:
“Volatility Will “Crush the Stock Market” Says Ben Stein”
http://finance.yahoo.com/blogs/breakout/rely-money-not-people-ben-stein-123520229.html
Starting at time stamp 1:04 there is a chart displayed of the etf VTI.
Notice the fake print of 30 on the VTI Chart.
Check out this video entitled:
“Volatility Will “Crush the Stock Market” Says Ben Stein”
http://finance.yahoo.com/blogs/breakout/rely-money-not-people-ben-stein-123520229.html
Starting at time stamp 1:04 there is a chart displayed of the etf VTI.
Notice the fake print of 30 on the VTI Chart.
I suspect the re-booting, shifted the markets entirely from a massive collapse stage to a neutral position.
I do not know if it was the White brother hood (the good guys) that mitigated a collapse or not. But some major shift has occurred. I am totally out of my shorts from early Friday morning. As far as I am concerned, their will be NO COLLAPSE at this time. Can we get a run off in the markets later this week of 40 to 80 points. Yes we can, but over the next few weeks I certainly see 1305 in the near future. I hate to say, but we will have to wait until 2013 before we see a sizable correction in the markets.
I certainly believe in Zstocks views on the markets. He had posted earlier.
For all you bears, I hope I am wrong.