Did someone recently call the near-term market bottom last week? I want to thank them for that.
Dex, is that you?
You failed to include "I believe" and/or "according to some theories"...Let's not forget this is a secular bear market.
Let's not forget this is a secular bear market.
The 1100 area is one place to watch, on a closing basis (it isn't a magical number - don't think if it closes above 1100 we are in a new bull market; just an area of resistance to watch). My guess is that people don't want to be long into the 3 day weekend so the S&P won't close above 1100.
On the attached chart the 50day MA (turning down) is below the 200MA (flat).
On Tuesday, there could be another pop, which would be a good time to sell.
I'm playing with the idea of a very small short on the Tues pop.
It is good to be watching this all unfold from the sidelines.
Still lots of cash. Waiting for the future to become clear.
You failed to include "I believe" and/or "according to some theories"...
Well, there was this, but it was a "here we go again" rather than calling a bottom, an ability I make no claims of possessing. I didn't realize at the time that the Dow had briefly dipped below 10,000 earlier in the day.Just kidding. Did someone recently call the near-term market bottom last week? I want to thank them for that.
This is a definition based on a theory - which everyone does not necessarily believe, thus the reason for my comment.No need - there is a definition and we met that definition.
This is a definition based on a theory - which everyone does not necessarily believe, thus the reason for my comment.
This is a definition based on a theory - which everyone does not necessarily believe, thus the reason for my comment.
You failed to include "I believe" and/or "according to some theories"...