I don't post as much anymore but this is a complete farce. Up 140+ points in less than three weeks with what, one down day? LOL! Retail is never coming back. Let the #$%$ flip shares back amongst themselves.
Look at every relevant indicator... almost every single indicator known to man for the past few months has flashed FALSE sell signals... even old trusty, the RSI, no matter what time parameters you input, has not dropped into the 25-30 range since this rally began in Nov. 2012.
Down 100 points in 4 days (june 19 - 24) sounds like more of a joke then up 140 in 15 days. So tell me oh great one, why is one move "real" and the other "fake". Could it be because one was beneficial to your position (take all the credit, your so smart) and the other went against your position (time to blame others, It couldn't possibly be you, this is fake and manipulated). Time to lose the bias.
I suggest you look at the amount of money retail is putting in 401k plans. With all these corporations and government jobs many people are in the market. Do not make up a reality that fits your ideology.
And we only had the one down day because traders saw the 8-day winning streak and saw that such a thing only occurs twice a year. But as long as earnings season with easy comps is here, and Bernanke is talking dovish, and money is fleeing Europe for safe havens, the US market has nowhere to go but up. Easily 1750 by the end of the month and 1900 by the first week in September.
Gemini you must be doing well shorting those POS bear funds. You back in black for the year yet? It amazes me how much people seem to be making just buying weekly calls on SPY now. hundreds and hundres of percent. Just... wow. Problem for me is if I were buying options I would never put more than a few grand in a trade and it's really not enough to make a difference. I'm tempted to stop the rally by buying some SPY calls now.
I won't be back to being black in my trading account until the end of the year with my strategy now. The FAS/FAZ pair is basically flat/slightly red because XLF has been green almost any day. When that trend reverses, it will provide a nice bounce. That's why the re-balance is crucial though.
EEM (EDZ/EDC) and especially UNG (UGAZ/DGAZ) have been well behaved so far. I want to jump into the RUSS/RUSL or DUST/NUGT when I get a chance. Long term, volatility is great.
The big benefit is not having to worry or even think about this POS fraudulent market anymore. I've been much happier and more enthusiastic towards life and if that took a decent chunk of money to learn (I have made about 10% back from that final loss that led me to quit this POS). I am even looking at a nice promotion and some good perks in the near future.
Good luck to all on SPY board... even Market.Kibble although I wish him luck at gaining some mental stability.