I have not updated my blog as I’ve first been sunbathing then shoveling snow and shit. But the last posting says it all for any and all market timers. I will cut ‘n paste for you now if you’ve missed it. BTW–we are EXACTLY AT MY TARGETS.
As brokers have said through the ages, “I may not always be right, but I’m never in doubt”. Except this time I’m right. Have a nice day.
http://ibankcoin.com/scott_bleier/2011/03/17/the-bingepurge-market/
THE BINGE/PURGE MARKET
The outside events are almost unprecedented in modern times. Markets sold off, just to the point of being oversold for the first time in seven months–after being overbought technically the entire time.
The “world” has created trillions of dollars/yen/Euro’s etc. and forced it into the capital markets. Because after all, its all we’ve got. Even with the possibility of Japan being a “dead zone”, the market is due a bounce.
We’ve binged for months. We purged for days. Lather, rinse repeat. Expect a long trading range until QEIII.
Targets:
DOW 12k
SPX 1300
NASDAQ 2700
RUSSELL 810
Nice call. Do you think we can get to the all time highs by the end of the year?
oh, that hurt!!
I agree with Scott…….no way we rally past 1320…….down we go to 1206