DMP- Re: Next week...
I agree that several folks have been out tooting the horn....about how bad next week may be....this, in itself, can be contrarily good for longs of course...
The big issue that I have, though, with next week seeing a sustained rally (if we don't see an intermediate panic low...)...is that we are going to be getting earnings bombs almost every day next week....Even if we don't get them....it will be scary to hold long overnite...because one just doesn't know what's coming after the bell...
Perhaps investors will get brave, buy en masse, and hold thru everyday next week...but IMO, it makes more sense to buy after most the earnings announcements are out, bad earnings forecasts on the table, tax issues are gone, and you are closer to the Fed meeting, and closer to the conclusion of this thing. Like sometime after April 15th. Next week just feels like undo risk (on the long-side)...
None of the individual charts I see have put in decent bottom. None. If you know of any, I'd love to see it. What most have done (so far) could just as easily be the next "shelf" for a further down move.
And, if that bottom made Friday was a true bottom, Monday should be a strong up day, IMO....and hopefully no "gap crap"...let the market rally hard intra-day for a change....good A/D....and volume......and hold its gains....a couple days like that, and yeah, I can be a believer....Also, another successful test of 1795 would be interesting, too.
Continued best wishes... |
