testing the previous high, key time. I won't hope much for bears though. may pullback or consolidate here but this bull has legs.
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They way I'm looking at this is... Technically, we are overbought here at massive psychological resistance which I think WILL be destroyed by bulls.. The question is, now or later? If now, this is a mighty tight Handle of the cup.. I want to see that take a few months and be a lot larger than this.. This doesn't feel right and if we do take off.. the correction from whatever high we do reach will be sickening and will be lurking around every corner. I don't think it will be something you'll be able to prepare for unless you're constantly hedged. If we correct now.. a nice spring correction, then we'll have a much safer climb into new territory.
As someone posted yesterday, we've seen gains this year that exceed the average gains for the entire 12 months already is this sustainable on an economy running on fumes and inflated dollars?
So the question is, what do the market makers want to see? A set-up for a massive crash (currency bubbles) because we all know how much money there is to be made in crashes when you know they're coming.. or do they keep retail around.. sucking their blood every once in a while rather than killing them for good.
Because if this thing rallies hard from here on into the summer the correction will likely be a crash and retail will never come back. Just my two cents. Of course the scorched earth policy maybe just what the plan is anyway. Destroy the economy once and for all, God help us.
No, I'm not a perma-bear but this market is full of funny money and we all know it. Just a matter of time before the music stops and how few of us will find a door to exit through? Wouldn't surprise me if they lock the doors.
stlwater wrote:They way I'm looking at this is... Technically, we are overbought here at massive psychological resistance which I think WILL be destroyed by bulls.. The question is, now or later? If now, this is a mighty tight Handle of the cup.. I want to see that take a few months and be a lot larger than this.. This doesn't feel right and if we do take off.. the correction from whatever high we do reach will be sickening and will be lurking around every corner. I don't think it will be something you'll be able to prepare for unless you're constantly hedged. If we correct now.. a nice spring correction, then we'll have a much safer climb into new territory.
As someone posted yesterday, we've seen gains this year that exceed the average gains for the entire 12 months already is this sustainable on an economy running on fumes and inflated dollars?
So the question is, what do the market makers want to see? A set-up for a massive crash (currency bubbles) because we all know how much money there is to be made in crashes when you know they're coming.. or do they keep retail around.. sucking their blood every once in a while rather than killing them for good.
Because if this thing rallies hard from here on into the summer the correction will likely be a crash and retail will never come back. Just my two cents. Of course the scorched earth policy maybe just what the plan is anyway. Destroy the economy once and for all, God help us.
No, I'm not a perma-bear but this market is full of funny money and we all know it. Just a matter of time before the music stops and how few of us will find a door to exit through? Wouldn't surprise me if they lock the doors.
gasprice wrote:The Dow just made a new all time high.
I'm panicked in my SPY call leaps which are up nicely as the buy the dip strategy works perpetually so far in 2013 (no trading losses). But, what to do?
WAS THAT THE TOP?????
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
1:41 PM First Solar (FSLR +23.8%) guides on its analyst day for 2013 revenue of $3.8B-$4B and EPS of $4-$4.50, far above a consensus of $3.15B and $3.46. Shares have spiked higher on the news, and were shortly halted due to volatility.
Update (1:56): First Solar shares are now up 48.2%, and have been halted again.