You did a really nice job recognizing the internal breakdown of the market conditions recently. Having said that, market internals break down for a reason, they needed a catalyst and they got it. A nice 5% correction would bring me back to the table as my shopping list is extensive because the only fundamental change that has occurred from one week to the next has been sentiment. Sentiment is a market fundamental. A shift in psychology surrounding Fed statements does little for me in the short term as I don't believe the market will fully price in the long term Fed involvement. Very simply put, Wall Street can only make money through transactions and when they sell it only leads to one thing, further reduction in volume. Awaiting my invitation to come back to the table, we'll see! Good luck prognosticator of prognosticators lol!!
"Good luck prognosticator of prognosticators lol!"
You wonder why I snap BACK at folks who personally attack me? Well, even Seth had to put this little not funny, likely resentful dig gratuitously at the end of his post-to someone who talks to him, defends him, but he just Hadda throw in that dig which reveals a lot as humor often does. See, I don't give a #$%$ about some ex post facto autopsy of the downturn. My guy looked at #s-not "Fed Fear" or "China slowdown" or "Agenomics". Tell ya what. Sit around sipping Starbucks trying to figure out WHY you got hammered. Not interested. Not married to Soda either. I care about price action and market trends. Period. So Seth, "analyst of analysts":) I say you're dead@zz wrong. Of course, I could be wrong. Thumbs down. "That Atty is soooo arrogant and cruel"!!! Really? Seriously? I put up nothing but jokes and info here, but take endless #$%$. And Captain, don't even think about it:). "Relax Sterny" you said last week. I guarantee!!! I'm more relaxed than just about anyone except folks like jim who "get it".
I fundamentally disagree Seth. Yes, sentiment sucks, but the # of stocks over their 200 Day MA is now in the 60%ish range, down from the 80s and the direction of the moving averages remains DOWN. I say more downside, but I can't be sure. Surely not covering my shorts or buying stocks. Remember too what I posted. Virtually every correction that exceeds 5% goes down further. You buy kiddo. GL.I'll wait for a clear signal and I don't need to hit the bottom-just catch the usual 80-90% of moves-up or down.Take that to your market gurus at CL. They are prolly watching levels and retracements. GL with that!!! SPLASH!!!
You can fundamentally disagree with me all you want, but what you call an excuse I call a catalyst, they do exactly the same thing indicating they are synonyms producing the same result. Market internals do not exist for the sake of existence, they exist because of events, fundamentals et cetera. Just like a chart doesn't create itself out of thin air, internals can't be created without catalysts ie fundamental changes. Things don't happen for the sake of happenstance lol!
Thanks, but what you call a "catalyst," we call an "excuse". Was gunna happen because the Market said so. The fact that it's blamed on the Fed is comical to me. He said NOTHING anyone paying attention didn't know. Japan has been a disaster.China? Please . Seen all those empty buildings forever. We won't nail the bottom, but we'll see it and might get back in a little late after she turns back up-assuming she does. It has NEVER missed. I take no credit! Not my deal-just happen to have a convenient best friend. He's sitting on a porch in Maine now for the summer and my Commie.... I mean liberal Yiddish neighbors left for Colorado to compete with others of their Ilk to see who can outspend one another. Meanwhile, I got THEIR pool(no maintenance:) and now, the one on the other side too-house empty due to 10 year family squabble and brother wants me to use THEIR pool. Imagine my joy-two pools and NO neighbors!!! Lol.
Look at this junk Jim, look at the way he talks to Seth in this thread, look at the vitriol and disrespect. And where is the market since June 24th by the way and just like Seth was trying to explain to Atty and I'm sure clients. I'm sure he had clients use their shopping list to be buyers of that dip and I hope they did. Why, the market is up about 400 points, but as Atty said, he would bet Seth would be dead #$%$ wrong. Saddest part about this whole thread is that this isn't just the way he speaks to Seth now, this is how he speaks to everyone who disagrees with him. These are prime examples of Atty's NPD as you put it. I wish you no ill will Jim as I sense your heart is in the right place, but if you want to help Atty, talk some sense into him. I agree I've been an acehole to Atty and don't care, but I also no that Seth has never and will likely never defend himself against the board. Should I defend Seth, probably not as it interferes with what most are here for, but I made a choice to do so. It's my choice and I stand by it!!!!