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  • mognj mognj Apr 10, 2013 1:06 PM Flag

    RSI is overbought.....Sadly missed my buy limit at $2.05........

    But we did double bottom at $2.06.......Some sharpie took note of my post and raised me 1 cent. Very evil! Watch for $2.36 to be short term resistance. I'll set another limit at $2.10, oh well. A little consolidation would be good. I would expect market correction soon. Remember adage, 'Sell in May...........'

    Sentiment: Buy

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    • You haven't learned from your miss at $2.05 - just when everyone expects the expected, the unexpected happens.

      I've heard so much "Sell in May...." this year it is getting ridiculous already. I think the pros are simply saying it now hoping that everyone will sell in May. Funds still need to make money between May and October - no? I think they want everyone to sell in May so they have a chance to pick some things up cheaply.

      You've never heard of a Summer Rally? It does happen. And if you have about half the gurus calling for the market to go to 18,000 before the rally is over, it is going to take a summer rally to do it.

      Now, there certainly can be a 5% or 10% pullback along the way, but it seems the market will go higher before this is over.