I expect one as i believe we could see Dow 12k by January 2011.
After a volatile week of going nowhere for two weeks and the filtering out the noise of a potential Korean Civil War, we are still trading above the 50dma. In Elliot wave terms, we are in wave 4 correction, which is notable for its oscillations. If we break out next week to above 1210 that would set in motion the Santa Rally and we could see 1300 by January.
If history is any guide, we should see a Monday breakout or consolidation.. as the two worst Thanksgiving Mondays were in 2000 and 1973..both bear markets.. not the case now.
Friday, November 26, 2010
Thursday, November 11, 2010
Never Fought the Fed
Wall St. Adage- Dont Fight the Fed
Is it really wisdom or just plain old follow the herd mentality? This adage will be tested in the future, so far so good.
Well Summer has pasted, where Bear Market Paranoia was entrenched in all our minds this summer, including my own. The summer falloff corrected some of the bull market gains and provided the necessary doubt in most investors minds to fuel a new high, forcing them to chase or in most cases cover their shorts.
Forecasts still look rosy.
I see a top forming by next week, as the SnP should hit 1250. Then a correction into the end of December, followed one final push into March 2011, where the bull market top will reveal itself as the cycles from low (March 2009) to high (March 2011) will once again rein supreme, as other past cycles have proven.
Is it really wisdom or just plain old follow the herd mentality? This adage will be tested in the future, so far so good.
Well Summer has pasted, where Bear Market Paranoia was entrenched in all our minds this summer, including my own. The summer falloff corrected some of the bull market gains and provided the necessary doubt in most investors minds to fuel a new high, forcing them to chase or in most cases cover their shorts.
Forecasts still look rosy.
I see a top forming by next week, as the SnP should hit 1250. Then a correction into the end of December, followed one final push into March 2011, where the bull market top will reveal itself as the cycles from low (March 2009) to high (March 2011) will once again rein supreme, as other past cycles have proven.
Wednesday, September 29, 2010
September to Remember
One more day and September will be registered in the record books as one of the greatest abnormal rallies in many decades. But remember just as fast the market ramped up, it could easily crash back into place.
Look for a firm selloff to begin Friday as more skeletons will be coming out of hiding and make October 2010 feel like a reenactment of October 2008.
Look for a firm selloff to begin Friday as more skeletons will be coming out of hiding and make October 2010 feel like a reenactment of October 2008.
Saturday, May 8, 2010
Saturday, April 17, 2010
Monday, April 12, 2010
Calling a Short Term Top
The market has finally appeared to show the pattern i was finally looking for. And now i have firm conviction we trade down for the next two weeks, contrary to CNBC's prediction.
Sunday, April 4, 2010
GREAT QUAKES!
There will be an addition of five big quakes occurring in 2010 after the recent Mexican earthquake.
A notable soothsayer sees.
A notable soothsayer sees.
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