SO: I know that you keep referring to the Dow's rise the past few weeks. But, most folks have not been making the big money on the Dow issues. They have been playing the hi-techs and nuts. I think all would agree the month of April has been rough on many of those issues, at the very least volatile in some. And, depending on one's entry point denotes how rough that has been on the individual investor/trader!
Surely the Market as measured by the Dow Indices has been on a rally as of late. More than I expected, but not unexpected as funds rotated seeking safer havens.
You and I have been on the same side of this move except for one aspect. I thought the move into April would bring a topping process, at least medium-term. In the Hitechs and nuts, that has been apparent. But, the rotation into safer ground propelled the Dow issues much higher than I expected.
Is this a staging process for a break out or is this a topping process for a larger pullback....that's an open question, that only time will reveal! Gamblers can profit if right on either call. A more cautious play would be to wait for a move in unison. It will come, but you will leave some chips on the table for being cautious, that's just how the game is played!
Is today that day of unison, not for me as long as my expected retrace levels are not breached. However as you, I am keeping both eyes open to prevent previous expectations from adding bias to my current read....
After months of blatant moves, the "big boys" are working hard at keeping this one camouflaged.
Regards,
LG
Disclaimer: My posts are my opinions only and I reserve the right to be wrong on occasion. Do not base any investment decision solely on anyone's views or analysis. Do your own research and take responsibility for your own investment decisions. |
