Ladies & Gentlemen,
Markets have just put on a remarkable show over the past few days. Everyone now believes that there is nothing that can touch this market and it is the epitome of resilience.
I want you to be very, very careful here and now. We are facing an imminent reversal in the major stock indices. I’m not stupid enough to call a top–but rather cautious enough to know that at this stage of the dance, you’d be wise to tread very lightly…
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Knowing the market, we will play cat and mouse for a day or two.
Then a phantom overnight buy program will open the indices with a gap to new highs. Then the momentum guys will jump on and we’ll get another low-volume melt-up, just like so many in the past. Why sell the government engineered market?
That’s why I’m still holding longs even though I am reticent to buy fresh…On the other hand, imagine if we don’t…
You took the words out of my mouth. Bot a huge chunk of DXD at 25.20, just a few minutes ago (btw, I’ve never played this inverse ETF before, but, judging by how well it acted in late January, it looks good for a ride. I’m looking for at least a very sharp pullback in the markets (or maybe something more sinister).
This is my only position right now (exited all my longs on the GS SEC news last week). Every indicator I track is flashing major sell signals TODAY. Anyway, that is all.
Good luck to all members of the forum. Stop loss on DXD is at 24.75.
People, forget about shorting this market you will lose money. This is not your old school market when there was “ebb and flow” chuckle Scott. Everybody in the market knows how to short hence everytime we get a little correction it does’nt last for two hours. My advise for you is to just buy as the DOW creeps to 36,000.Yeah keep laughing at me and say what do I know? Whatever you learned twenty years in the market will not work in this market. Just buy Apple, Amazon and Goldman Sachs.
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You are obviously absolutely right, sir!
The call was a good one–for 2 whole hours!
Took the DXD trade off. You guys are absolutely right: this market is not grampa’s ebb and flow market. Caved in and bought some SD (nice upgrade and good volume). I’ll slowly get back in by targeting stocks that are oversold and have good short-term catalysts. Buying over-stretched momentum names gives me the shivers at this late stage. Good luck to all.