yes, "blame" it on me (G). As always, feel free to disregard anything I post. I could be wrong.... been wrong before.
gold... been doing the big nothing for the past 3 weeks (as a normal and healthy bull mkt tends to do) those w/ patience will do wonderfully in this sector over the next few years. I'm sure many were impatient w/ GE in 1989 when it was $10 and were wondering why it wasn't at $20 yet (G)
Drillers are headed for the bottom of the sea. I still plan on buying NE around 3 or 5 later in '99.
NKE... joining the drillers very soon.
banks... wouldn't touch 'em w/ Slider's money.
airlines... remind of the drillers this time last yr, same stubborn bullishness, but they are slipping away just the same.
tech... who knows when that drunken party will end, but when the internuts go... tech goes w/ 'em. DELL looks especially weak.
Wouldn't it be a shocker if we ended in a double top fashion... surprising everyone (even the bears)? For everyone knows that bull mkts do not traditionally end in double tops.... yes wouldn't it be perverse justice that even those that know this mkt is headed for a fall are playing the long side for the trip to 10,000 and get caught in the trap?
nah... probably not (G) where's my monkey w/ his buy button.....
One of my favorite sentiment indicators is screaming SELL... over the past 8 months, I see increasing numbers of different brokers advertising on regular TV. At first it was only Sat afternoons during golf, now it is ALL THE TIME. I can't watch anything w/out seeing Peter Lynch's ugly face, or some clown telling me how he doubled his money on E-Schwab.
when things do start falling part, those playing the speculative long side best SELL and ask questions later. The decline should be fast. do not get caught standing around waiting for the bounce to new highs... there won't be one.
some things to consider before "drinking and buying":
can we say "the bulls have bought?"
decisionpoint.com
A/D line unconfirming recent rise
decisionpoint.com
fewer highs on this top than the last
decisionpoint.com
when the dollar breaks this s-t uptrend you'll KNOW it is over, but the stock mkt should breakdown BEFORE that.
decisionpoint.com
all IMO of course as always.
-Lucretius
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