Alright, I'm in...
After lurking on this thread for weeks I've ponnied up the $200 just cause the discourse is soooo good. Seriously. My two cents for now.
1.) Yes the markets are sooo overbought its scary, but lately tryin' to nail a top has been worse than fishing for a bottom in August. Overbought and oversold are relative conditions that don't seem to mean much when liquidity (or lack of) and or fear/greed/ psychology are strong in either direction. Bullish % is around 57, while bearish is down around 31%. Never a positve for long. We've got the Dow 10,000 and 12,000 predictions coming back. Those tend to be as annoying as the DOW 5000 doomsday scenarios. No?
2.) New highs/new lows. I agree with Donalds opinion on this one. I won't believe the bull market is truly back until that improves. Its total trading range till then. A/D line looks to be flattening out, is it rounding down? I'm not sure.
3.) Russell2000 still more than 25% from its highs, when I think the time is right I'm going long RUT march calls, lickety split. heh heh heh
The markets NEED a pullback of at least 3-5%, people are poised to buy a dip, that cash needs to be drawn in to push the markets higher. Oddly though, bear traps tend to function like that. No? I haven't been in the game long enough to experience a true bear market so this is all a learning experience.
Anyways, I look forward to any and all discussions here. I hope I can help as much as I think I can learn. Its all good. heh heh heh
Its a beautiful saturday, I'm gonna climb a rock.
Later all, and Thanks.
Darin
P.S. Spelling has never been my forte. heh heh heh |
