Elliott Wave and Index Trends with POKERSAM Message Board

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Strategies & Market Trends : Elliott Wave and Index Trends with POKERSAM

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From: POKERSAM	8/7/2022 1:55:05 PM
	1 Recommendation of 1780

Bullishness is rampant across the boards. It is always the same at a top. Everyone has a reason and a system that supports that bullish view. It never fails that a bear market rally brings out the bulls with rabid calls for higher prices just as it comes to an end. I read a lot of bullish calls this morning. The last one was a call for 4400 by the end of the month. 4215 next is the most common repeated target and it seems like a modest bull expectation compared to the most optimistic prognostications. It seems everyone is expecting new all-time highs as the next goal for the markets. So, is everyone right? Was this dip just a wave four that is over? Are new all-time highs next? Did the bear market correction end at 3636? Is that the final bottom of this correction? Yes, yes, yes, yes, yes, says the herd. What do you say? Are you on the bull train? If so, you should begin to trade using the bull market mindset. Buy the dips. Watch for buying opportunities. Buy when you see those bargain basement prices. The markets always come back. Let your longs run and be very cautious with shorts. View short positions with skepticism and only temporary and take any profits quickly. Be careful not to get caught short. This bullish mindset is very easy because it is natural. Man is naturally bullish and optimistic. You will not have to work at this one. The favorite saying when having this mindset is "The markets always come back and they always go to new market highs." This is true. Historically, every single cyclical bear or secular bear has been followed by new all-time highs eventually. The key word is "eventually". How long is this "eventually"? How far will the market have to come back to get you even? The question of "How long and how far" has to figure in this equation. The problem with having a bullish mindset in a cyclical or secular bear is that you can run out of money or time or both. Add to that the fact that you may never recover all that you lost. This is just not a good idea. Of course, if the herd is correct and this down move is over at 3636 you will be fine being bullish. It is easy and it is fun. Why? It just comes naturally. So, best of luck to all. Whatever your decisions are, I hope they are the right ones. In the end everyone makes their own bed.

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