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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (41989)	12/17/2012 8:25:21 PM
From: Fintas	Read Replies (1) \| Respond to of 223473

I took a peek at that spx momo. It's at a previous resistance 84.6 and it's next layer is at 92. This is a weekly chart. So if you look at it from this perspective. Stand atop the empire state building and look down. The question is will the market climb up the needle and go to 1433/1444/1458..zzzzzzzz I mean look at it from a % point of view. That move would be how far from where we are? If it did hit those numbers it could move the spx bp from 65 to 70? But at some point there will be no more room to climb in that spx near term momo and when that happens HISTORICALLY, a drop a bounce and then an extended drop to areas from where it rose. And that is 22 ish. That doesn't happen without taking the spx with it. So let your signals guide you. Me? I'm not afraid of heights but I do respect them. If I owned a stock that was toppy as apple was, I'd be protecting those profits. If I owned a sector that was to far right, I'd be protecting the profits in the stock within as what happened with the precious metals. And while this happened I'd be looking for bargains in any sector oversold for no good reason. As I did with BAC off the bottom by sizing in. I took a closer look at BAC. A .50 of stock price/spxew gives it a buy signal. It is real close. Buy signals usually cause some thrust before settling down. It could move to .65.before it's all done. Oh that will take some time. Yet as a long it tears of joy as I have had to listen to so many who dissed BAC for so long and now they will wish they were taking leaps and of course the core or sized down.. ALL IMHO Fintas