Jerry,
>>>> as for the DOW??? i totally ignore that index...meaningless in the scheme of things imo...
and if you take a moment and look at the P&F Bell Curve of all the sectors Dorsey Wright follows..i'd think you'd be surprised at how balanced it is right now.... <<<<
Frankly, it for good and exciting discussion, but I now really think it is a waste of time trying to guess whether the MAIN top is or or make strong BULLISH comments. Im a firm believer that the futher and the stronger the prediction is the probability lessens since there are simply more variables. Whats harder to predict, an exact price where the SPX will be at 12:00 tomorrow or at 12:00 on FEB the 27, JUNE 15, etc.
So for now I just concentrate on overall short-to-mid-term moves and effects of SECTOR ROTATION.
We started trading the USPIX/UOPIX(follows the NDX in both directions) on JAN 21. Since then when the NDX closed at 3837, the NDX is only up about 1.5% as of FRIDAYS close. During that same period we completed 6 trades which averaged 8.5% per trade and arithmetically totalling 51%. To note be like the media and give more of the picture, we started with $10,000 and with the completed trades we are up about 9%, but keep in mind that the average trade was only 25% of the total capital and thats playing a mutual fund. Its all archived on our website. And yes, we played both directions.
The point is the that the overall market is oscillating/sector rotating and to look for the exact top or wait for the next strong bull swing - well its a loss opportunity right. This is not directed at you since you did play the downside with OEX puts, and congrats.
As for your comment that the DOW is meaningless, well I wouldnt go that far, but would agree that it is taking a less of a center stage as it has before in light of what the NAZ is doing, at least for the time being. Again are you SO SURE that the DOW is MEANINGLESS. ggggggggggggg
seeya |
