“Note that this weeks Barron’s cover is a warning (from the Gordon Gekko’s of Wall Street) to Corporate Insiders that the markets will be moving lower.”
sector rotation can last a lot longer than anyone has cash trying to short the market. right now, cash has sector rotated out of solar and airlines. I think sector rotation has a long long way to go. i think next week, the market sector rotates back into those 2 sectors.
the spx, doesn’t have the eps, to make too much of a new high, next month or so. it should trade nearly sideways. when june gets here and if the market hasn’t corrected by then, and june keeps going higher, that means the market is play earnings forward, to make the higher highs in june, get ready …if that happens for a July-Aug CRASH at least enough to make every dow 30 stock go to rsi 15-25…rsi 25 is a long drop for IBM, as an example.
Thanks…
Good catch! Looks like we are very close to top from the looks of things.
Red, saw this posted on another site. FYI
“Note that this weeks Barron’s cover is a warning (from the Gordon Gekko’s of Wall Street) to Corporate Insiders that the markets will be moving lower.”
http://www.businessinsider.com/uh-oh-remember-what-happened-the-last-time-barrons-had-a-bull-crushing-a-bear-on-a-cover-2011-4
QQQ Weekend update: http://niftychartsandpatterns.blogspot.com/2011/04/qqq-weekend-update.html
New post…
http://reddragonleo.com/2011/04/24/weekend-update-will-the-market-go-up-to-the-spy-fp-of-138-86/
Ford Motor – Bullish engulfing: http://niftychartsandpatterns.blogspot.com/2011/04/ford-bullish-engulfing-pattern.html
sector rotation can last a lot longer than anyone has cash trying to short the market. right now, cash has sector rotated out of solar and airlines. I think sector rotation has a long long way to go. i think next week, the market sector rotates back into those 2 sectors.
the spx, doesn’t have the eps, to make too much of a new high, next month or so. it should trade nearly sideways. when june gets here and if the market hasn’t corrected by then, and june keeps going higher, that means the market is play earnings forward, to make the higher highs in june, get ready …if that happens for a July-Aug CRASH at least enough to make every dow 30 stock go to rsi 15-25…rsi 25 is a long drop for IBM, as an example.
that makes a lot of sense…railroad building, through out history, has been nothing but despicable.
looking for IWM 85.2, then shorting that price……could get as much as 1.2% on the pullback.
hi SAN,
i don’t know what makes the solar sector go up or down, but i do know, when WFR is in the 11’s, i better buy some solar.
http://zstock7.com/wp-content/uploads/2011/04/FSLR-4-22MM.jpg