I don't blame you, after it broke above the trendline you drew. Also, your own new indicator was showing that the market was trending. It must have been very difficult to stick to your guns, when everyone around you was crying, "Sell!" -- most especially me. Then there were the Class 1 Sells, the sudden pullback yesterday, INTC's drop after the close, etc. It just goes to show that one has to follow one's own system, and ignore all the others.
Quite the volatile market. Time to shop for Dramamine or some other motion-sickness pill. (Or just to surrender to the impulse and hurl, with the ramp job in mind.)
As I said, my own system now shows more room to the upside, though the CI's can turn at any time. The CI's really need to max out at 100, to put an end to the ramp job. (Betrayed by my own system, which has turned more bullish for the short term. You'd think it'd be more bearish, wouldn't you? My system is a rebellious child, I suppose.) Yesterday, it was somewhat undecided, with the S&P basically stuck where it had been the day before.
The truth is I'm not always bearish. When complacency plummets, and the doomsayers emerge from their lairs, I can be just as obnoxious with the bullish case. |
