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

To: Hawkii who wrote (49509)	5/1/2013 2:15:25 PM
From: Fintas	Respond to of 222191

YES your observations are correct...Doesn't mean a sector can not move further right or a stock within a sector can not buck the trend. It simply helps one to be objective and understand just as when the MAJORITY of sectors were at 12 back in 2008 it didn't stop the sectors from bouncing to 26 to then drop lower to the 3's I mentioned earlier. Having a very good understanding would help someone not try to catch a falling knife in a sector or a stock. As I look at the sectors and notice banks, savings, wall street, financials all to the far right it simply says to me expect some selling and act accordingly. Would I jump into a computer sector just because it's in the 40's. NO! But I'd be watching for it to unwind as I look at other supporting numbers which also included the basic TA. Yet TA can move up and down can catch many in a sea change as just happened with GOLD because many were too giddy re 3000. It's ok to be giddy. I see 42/48 etc re GE. But let's not forget being objective. GE is NOT going to 42 THIS YEAR. Unless someone wants to pay me off market for such. I'll gladly sell some. SMILE Good trading. Fintas