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Strategies & Market Trends : Longer-Term Market Trends
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To: Mario :-) who wrote (2399)5/10/2013 8:28:57 AM
From: POKERSAM1 Recommendation  Read Replies (3) of 3209
 
I never considered it a line in the sand. Just a resistance level.
The IT trend is up and betting with the trend is always the safest bet.
However I don't think it is such a good idea late in an Intermediate Term sustained move like we have had since 1343. The market only goes straight for a while.

One word of caution. This Intermediate wave (C) from 1343 is long in the tooth at 291 points making it the longest Intermediate wave in four years. It would be extraordinary for it to continue much longer without a correction. The last three Intermediate degree corrections averaged 140 points. I believe it would be prudent to expect at least that much and to expect it soon.

You can always take the attitude that this time it is different.

Of course one could be like the herd and borrow all the money you can and put it in the stock market. Margin debt is at all time highs not seen since the record in June of 07. But that can be ignored too if you think this time is different.
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