These markets are a battle royal between Bulls/Bears. That's great and a lot of fun. I'm happy to hear all this nervous talk about a major correction coming, how we are currently in a secular bear market but in a cyclical bullish uptrend, how the inverted yield curve, which, by the way, is blown way out of proportion, due to tremendous overseas buying, is going to cause a major recession, how the consumer is finally tapped out, etc; since the Bull feeds on Fear. I see clear sailing ahead. But the sea will get a turbulent at times. The key is to be the calm in the storm. I'd hedge my portfolio and buy URPIX if the S@P fell below 1246 on a closing basis. I think we'll just continue to grind higher here. After a nice opening week, if the market wants to consolidate its gains, that's fine with me. If the S@P wants to retest the 1275-1276 level again, that's fine with me too. If the S@P wants to create a little fear and come back down to the 1262-1264 level, that's fine with me too. The Bears will say that I'm complacent here; but I'm not. I look at the big picture and I'm Super Bullish. If key levels are broken on the downside, then I act accordingly. But I never panic.
I listen to the Market.
New Era, New Economy was destroyed in the 2000-2002 Nassacre. Now that most are still licking their wounds and still can't see straight, I think it is coming back with a vengrance.
LOL. |
