to say I think we hit the top of the market here. I think we get a hard 5-7 percent correction very quick, probably in the next two weeks. Then we will run up again till the end of the year only for all the MM's to take all their profits at the beginning of next year. Don't get sucked in when they run this market up again. January, Feb and March I have a feeling will be a brutal, brutal, time for the market. Earnings, taper , debt ceiling and profit takers at the beginning of the year.
Been waiting for a correction all year. Lost a lot of $$$ thinking the market is over inflated. Thankfully bought some calls with Apple over the summer that have helped take some of the sting. Anyway, me thinks as long as the Fed keeps dumping 85 billion a month it's going to continue to support the equity market. I don't like it but that's what we've seen with QE. What's the saying..."don't fight the Fed"
nahhh....If you watched the first month you would of seen the market was due for 20% or more upside based on historical trends of major upside activity in the first month (Jan). We are at 20% now almost exactly on the DOW and it has been in a range every since May, so will have to see if today made a clear breakout or not. Tomorrow will give more insight, but I think we have topped here and will come back to this point a little less by end of December again after our pullback.