* We should top tomorrow by all calculation. Tomorrow is a PERFECT fit and things seem to align daily more than perfectly in that direction. What's is missing is just one leg down in oil and one leg up in stocks and it's sealed.
* I saw this like a million times now but I still can't figure out how they can sell as much as they can and then stop at the specific number they should never sell after and vice verse. We're talking about millions of transactions that come from millions of directions! Isn't that a magic? S&P was 1/2 a point from 1274 and a last 10 minutes buying got it up from these low numbers.
* The uptrend support line from July's lows so far held its ground for SIX times and today's low 1274.51 are the new sell stop.
* Most of times trend lines (supports or resistance) work in 7 touches where the 7th fail to hold or top. So if we go up and then drift below 1270, the waterfall has begun.
* WARNING: The next leg up is the LAST chance to raise cash if not also short the market. My target was 1358 but considering where we are now, I believe 1320 is the new maximum target (although never say never).
* I'll close ALL my leftover long positions and short the market tomorrow if we reaches 1320 and will cover if they run over me and reach 1360. Nice and tight. If that to be the top, I'll keep these shorts maybe until October, hopefully where we FINALLY might see A bottom.
* My current players which I'll keep you updated with any adds, are:
+ Precious metals: GLD - GDX - DGP - SLV
+ Energy: I am still eying but not yet in USO - UNG - XLE
+ SHORT: LONG LIST. Once I start the program, I'll come here and put them.
I hope this adds value to your thinking, green to your bank account, but most important a smile to your heart.
Lucky and grateful
"DOW 15,000 is right around the corner!!!"
WOW! WOW! WOW! 3500 points around the CORNER! What a spirit!! I think you're heading around a cliff not a corner. What I like about you is that you speak with a lot of authority despite having a hazy track record.
Puts for investors are insurance policy to HEDGE their positions, if they come up to be wrong (as we all mortal humans do). You don't sell puts while longing the market! That's double exposure, my brother! You're even violating the basic rules of investing. You must hedge your positions either by diversifying your portfolio (by owning things that work in the opposite direction to your higher bets) or having options against your bets. It's ABC investing.
Again you can't imagine going down from here and as you called 14000 a beginning and 13000 a bottom, you call 11500 THE bottom! Dare I say that when we get to THE bottom, you won't be buying. I know you see the market in 5 years from here which for sure will be UP (which is easy to call) and I see the market in 5 weeks from here which is gonna be DOWN. But what's the wrong of capturing the difference and getting good quality companies while their stock is cheaper? What was cheap yesterday is cheaper today and will be cheaper tomorrow.
With that in mind. I leave you in peace and harmony more than a pair of doves that fell in love. :)
The lucky mouse
Why would I own Puts on ANY index or individual stock at one of the most important stock market BOTTOMS in my investing lifetime?
Puts would have been a great idea in mid-2007, but not during mid-2008 (if we are using them as a hedge against longs I am assuming). Selling Puts might make some sense, but I tend to stick to plain vanilla stock ownership, and take a longer-term approach generally.
DOW 15,000 is right around the corner!!!
I guess big brother is trying to give you a hint. It's a sign, GNIK! You didn't answer me yet.. do you have some puts? Especially you see now it's the worst in your 25 years.
The only breathtaking you will see is when they fall from bed and wake up from their dreams and those you believe will be kicking themselves will be kicking the floor dancing if not kicking someone else's behind.
Hope this find you well and swell.
S&P 1260 TWICE! Third time is the charm.
Big Brother busy deleting my posts again.
The depth and length of pessimism about the overall market and the financials during 2008 easily rivals anything I have seen in almost 25 years of trading.
Even the shocks of the tech bubble burst, the 1987 crash and the 1990-1992 recession led by weakness in the banks were not quite this extreme.
My money is still heavily betting on a strong recovery in the financials, the stock market, the U.S. Dollar and the economy over the coming months.
When we do get "the" stock market rally, it will be both breathtaking in speed and price gain I believe. Those that miss it will kick themselves for many years.
“You know the world is going crazy
when the Best Rapper is a white guy,
the Best Golfer is a black guy;
the Tallest Guy in the NBA is Chinese,
the Swiss hold the America’s Cup,
France is accusing the USA of arrogance,
Germany doesn’t want to go to war,
and the two most powerful men in America are named Bush and Dick.”
And there are many hands at that
It's a Kali!