One of the best post to describe how WS is full of shyte.. The so called talking heads, analysts know nothing better than any of us and they will do anything to lure the retail money in. The big reason why the market is holding up is cuz nobody is selling. Why? Cuz nobody is buying... How will the bankers dump the stock until retail jumps in? How long will it last? until some WS form breaks teh code and trys to sell... then the flood gates will open up :)
EW super cycle predictions are more aligned toward S&P below 500 before this secular bear is done. But they do have a final target of 2075-2145 before the bubble pops...
The next SI report to be released on July-10th should be very interesting... Some large trades transpired in June and we can get a purview in to if any shorts were net buyers to cover. Also, Institutional holdings might not come out until Mid-August and might be too stale information by then.
PPS is all that matters... Investor confidence is what supports that. Some funds will dump at any price you buy (If you think NIHD will survive) when there is blood in the street. Not when every Joe has a buyout target.
I've been posting about this potential sell-off for days... LONGS just like to turn a deaf ear! Just pray that 0.55-0.57 holds, if not 40's is a given unless some major positive news comes out soon.
Are you nuts? You don't make Buy/Sell decisions based on your bias, but what the market is telling you. Price/Volume is the only truth. I've been Bullish/Bearish/Bullish and finally bearish again... I follow the technical setups and it has been quite rewarding (Knowing fundamentals does help a little bit, but nothing much going on with NIHD unless some news comes out)
I guess you can't comprehend my post... let me make it simple for you. If it breaks 0.57 on above average volume then it is going to test the previous lows (Only some major positive news can reverse that) and make new highs.
NIHD is a very precarious position technically... A Close below 0.57 would confirm the short term double top and to complete the Big-M pattern... it would go all the way down to retest the lows from mid 40's. It needs to bounce now and eventually make a new high sooner rather than later.... Today is Russell rebalancing and expect some high trades AH (My guess is potential dump by some owning for the index mimicking purpose)
I've been spot on with my 0.6 initial target. Longs just want to be stubborn and have already taken a 20% hair cut from the highs.
There will be selling in to Russell re-balance... Also, funds will dump their losers and buy up their winners. Why buy now when it has some reasons to go lower. If you miss the big gain then move on to the next one (It is not the end of the world) But, technically it is treading water, but will either breakout or break down
How would you feel if it tests 0.45 again and you wished you had sold it at 0.75? Just asking...
Just cuz I'm bearish in the near term that doesn't mean that I'll short a penny stock. Risk/reward is not worth it. Yes... I'm short the broader market via puts and I think it is setting up for a big roll over...
So, were his so called claims about "Deal talk behind the doors", "Naked shorts" etc...etc..
I think he is just a paid pumper (Maybe even hired by a short hedge fund) to rant on these boards and encourage novice investors/traders to buy NIHD. Shorting does not work unless there is some volume on the BID side.
"What would it do if it is north of -2%."
I guess the answer would be "Rally on terrible news"
So, let me get this straight... the terrible winter weather caused the GDP to stall and the so called analysts/economists predicted a 0.1% growth... Then the initial numbers came in @ -1% (Just a miss by 10X) the market shrugged it off... then came the health care spending, and they revised it down to -1.8% and the market said Q2 will pick up the slack. Finally, Q1 number was -2.93% (Almost -3%)... So, the economists were off by how much? They still can't explain what went wrong with huge drop in health care spending.
Now, we are supposed to believe these same guys that Q2 will be 3.5% ( As per their current predictions)
Stagflation is here to stay for years to come...
I've never been a big fan of calling or expecting market crashes. This kinda market action, complacency and complete disconnect from reality is changing my thinking and now I would consider a possibility of one if this exuberance continues...