Ed,
Good post, and good logic. I have no argument here.
There used to be a saying that the cream rises to the top of the milk.
Perhaps that is archaic in the New Market, and my statement will be called to question. It will be called by every investor with a contrary indicator or system.
I am certainly not saying that I have anything other than a sense of direction.
Indicators, systems, advisors, and all else tend to fail. Just a historical statement. Good traders and good investors find success by nefarious means. I know not what those are, but it does happen. They have a sense of markets and conditions which is hard to define. They are in tune and know the direction and demeanor of the market.
I am calling nothing here, but my sense tells me that nothing goes forever and that one must watch for the end of the old trend and the beginning of another.
World markets are in turmoil. We are in a transitional period in which direction will be found. Expect volatility here. One can take one of three positions. He can be long, short, or flat.
I have said before that there is a lot of chop at the top and perhaps the bottom. This market is in a well defined down trend, not only in securities, but in futures, and the financials are double choppy--
The trend will present itself, and one need only to wait and watch!!
Waiter, watcher, Jack!! |
