Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 671.91

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Nov 14 4:00 PM EST

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To: manny t who wrote (32102)	5/14/2012 6:36:16 AM
From: robert b furman	2 Recommendations Read Replies (1) of 218848

Hi Manny, It could be a day or two to another week or two. Since February we've been in a corrective wave. ABC 3-3-5. We are finishing up the last 5 wave most likely wrapping up the 4 wave up which means we have to go through a down wave which itself must be 5 waves. So there is some ugly to go here yet. Options will expire this week that usually means big up one day and big down the next. Throw in a very weak Euro which is relative Dollar strength and commodities are collapsing (crude at a low not seen since December). So we see banks dropping in the bad news and oil and natural gas dropping in the news. Lots of negative news. Put call ratio high adv/decl lows. new highs vs lows are low. C waves make you feel horrible - all the bad news nothing is good blah blah blah. In short it is time to hold your nose and buy when it is horrible. Buy solid companies that pay a dividend and whose products have daily demand. Greece can fall in the sea and people in the world will still buy their product. Theres a time to take profits and sell.That's when you feel brilliant and have nice profits. Then there is time to buy - that's where we are now. stockcharts.com stockcharts.com stockcharts.com stockcharts.com Bradley date is 6/16 forbestadvice.com I'm bracing for the SPX to hit 1280-1290 the week after next. So we may be range bound for the next 30 days from 5/15 through 5/16 with a rally into July. Of course that is just a guess. One thing I know earnings surprised most as being good and the headline news is driving the market more than anything else. The good news is inflation is low ,interest rates are low,The US is doing better than most,commodities are weak,and most people are scared and putting money into treasuries. Those bolder are buying stocks that pay a decent dividend. That's where I am. Its much more fun to catch a stock going up,but that is a wait off and really we're through the worst. So getting paid to wait and selling a put or two on a stock I'd like to own more of. Nothiing get rich there,but you do have to buy low and that's when news is bad and every one feels bad. That pretty well nails now. Bob

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