Breakdown about to occur
- Thread starter michaelscott
- Start date
We could see an asain contagion shakeout soon ala 1998. Good 10% to shake out the pussys. On a valuation basis tha sp has returned 13% including divs since 2003 and is trading at a 16 pe. Bring on the big dipper. I have some dry powder in my rifle.
The majority of people lose money when they attempt to "fade" while the the majority of those who make money are the ones who ride the obvious established trend.
To take a hard position on the market is foolish. However, its easy to see when the market might be at a point of flux. Right now its at a point of flux where there are quite a few factors suggesting a change is in the air.
When mentioning price, you can only predict support and resistance with targeted ranges. What we do know about support and resistance is that when one is broken then a breakout either to the downside or upside is most likely to follow.
As a market participant, I can only predict support and resistance and suggest that if a bounce off of one does not occur then a positive or negative breakout will surely follow.
Fading is for fools and those who are successful at it are lucky fools.
To take a hard position on the market is foolish. However, its easy to see when the market might be at a point of flux. Right now its at a point of flux where there are quite a few factors suggesting a change is in the air.
When mentioning price, you can only predict support and resistance with targeted ranges. What we do know about support and resistance is that when one is broken then a breakout either to the downside or upside is most likely to follow.
As a market participant, I can only predict support and resistance and suggest that if a bounce off of one does not occur then a positive or negative breakout will surely follow.
Fading is for fools and those who are successful at it are lucky fools.
Not too smart. You have been bullish for the past 2 weeks and then you become bearish AFTER the fact there is a lot of sellign in ASIA. WHy not use your TA skills to tell us when this breakdown will happen before the fact? ALso posting 2 vague sentences doesnt do anyone any good.
All you seem to do is restate the obvious with some cautionary lines thrown in. Also TA doesnt work most of the time. You are too depended on it.
I posted this before the sell-off in Asia. It was hours before the selloff, but none the less before the sell-off.
I am very bullish, but there will be a pullback and, like I said, probably to mid-April prices. I said the levels for the Russell, but the Qs will probably go to the mid-45s and Spy will be 146-147 with the average just bouncing off the 50 day.
Whats so shocking about an index meeting back at its 50 day moving average? It usually takes place a few times a year.
Im not posting "vague sentences". Im posting whats called a trading plan. My trading plan is not simply "buy and hold the good stocks", but to confirm price at selective levels and to see where the trend takes us. All I know is support and resistance levels.
Isnt your trading plan to "buy and hold the good stocks"? You did post that up a few times earlier. Unfortunately, I dont work like that.
I am very bullish, but there will be a pullback and, like I said, probably to mid-April prices. I said the levels for the Russell, but the Qs will probably go to the mid-45s and Spy will be 146-147 with the average just bouncing off the 50 day.
Whats so shocking about an index meeting back at its 50 day moving average? It usually takes place a few times a year.
Im not posting "vague sentences". Im posting whats called a trading plan. My trading plan is not simply "buy and hold the good stocks", but to confirm price at selective levels and to see where the trend takes us. All I know is support and resistance levels.
Isnt your trading plan to "buy and hold the good stocks"? You did post that up a few times earlier. Unfortunately, I dont work like that.