Dearest TWICK:
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My wisdom comes from the old ways-
1)First I stick out my thumb about how I feel about the market.
2)Then, I turn it 180degrees for anticipating market direction. (eg If the thumb was up,,,,market direction is down.)
3)If a much greater % of people I come across are talking about how much money they've been making in the market vs losing, I get real nervous. (Gee, I'm starting to feel nervous!)
4)When I start making money on penny's I get even MORE nervous!
(Gee, I'm getting even MORE nervous!)
5)I'm normally off by about 1-2 weeks, so I begin planning conversion to cash, and start putting together my "wish" list on one of my aol portfolio's and name it "Crash stocks to watch". (Just considering getting one together)
6)About the time I'm done, everyone else has been talking correction for about a week to a month, and then it comes. (Hmmm, I've been hearing about overvaluations for about a week or two now....)
When correction occurs, I bring up portfolio, with 52week lows for each "dream" stock I've been wanting to acquire, and browse the list. I check it twice. See which company has been naughty or nice. Check Beta's if I think it'll be a lengthy correction, and choose the highest quality stocks out of the top 5-10 that emerge.
That is my current method of market forecasting,,,,well, maybe with a few technological insights from others as well. :)) |
