NucTrader: Don has not been negative to going long during this rise. As a matter of fact he missed only the initial reversal after Oct 8th and since has steadily called for the Market to rise. He has added some caution by calling the rally a rising trading range. That is no harm or foul.
I have been calling for caution. No chest beating here, but I did call the Market downturn in mid July. I also called the Market reversal the day after October 8th with an “A” buy from the 11/9 closing numbers. Followed by a “B” buy from the closing numbers on 10/15 and a “C” buy with from the closing numbers on 10/21. And I added that every time A “C” buy has been signaled while a “D” sell is current, a bottom has always already been put in place prior to this signal historically per my system. (Real time test back to 1986.)
But I also issued a caution with that post. Very few of us have Indicators that have proven themselves "during" a Bear Market, if this indeed turns out to be a Bear Market. In addition, I suggested not to stay married to any position.
And, I have steadily called the chart formations, Bull Flags (as has Donald), that pointed to break outs to the upside during each pullback of this rally. (per the Dow Industrials)
So no one on this thread has been put in a position to miss the rise, period. Only as of last weekend did Donald and (I might add myself), start calling for at least a short-term top to this current rally.
If he and (I might add myself) happen to be right with regards to this being a short-term top, well I would say this will have turned out to have been a pretty good series of calls.
The portfolios I manage have remained in cash. As I have erred on the safe side. I have NO regrets. The Market has just now returned to the levels where I went to cash AND preservation of capital is primary.
However, I have taken advantage of the Market moves via Day Trading.
I believe the Market is at another decision point this week.
Time will tell…
Regards,
LG
PS: Sorry folks, I usually do not point out my calls, after the fact! Especially if they were wrong...<g> |
