It is more or less historic, but I remember having a string of five consecutive days where the NYSE Tick went under -1000, before the market turned, when it did, it was the real bottom. So far we have only two days (and have seen turns after two such days) The extra -1900 of last Tuesday was followed by an explosion, if you remember, and using it last Tuesday was extremely profitable. What that number tells me, however, is that we no longer have a bull market, and even if we are going to get bounces on the NAZ, the breadth is going to be limited for a time (at least until late June or so?). Thus rightnow, I am working under the assumption that we are in a bear and we will not be bailed out by tides that "raise all ships". Taking stop losses is extremely important, and waiting for good entry points, or simply, not playing, is also important.
Zeev |
