going to 1077 on the s&p500
- Thread starter dotslashfuture
- Start date
I don't want to hear how you are smarter than all the experienced traders that came up with all these rules over a century.
stick to the topic or make your own thread.
stick to the topic or make your own thread.
1145
even more optimistic, how do you figure it ?
I figure it this way:
1. 50% retracement from SP Hi close 1527 to low 767; look back at prior cycles, Japan..even during Great Depression we had massive counter-trend move of 155%
2. Election year cycle, after long bear 66-70 (similar to 5/70-1/73); 45% counter-trend rally into election, even with tepid fundies, and Mideast tension fomenting (just the beginning of it)
3. real sentiment is bearish (forget the newsletters); hedgies getting creamed playing for downside (they are); when they switch sides ..we go higher still
4. New nifty 50: Ebay, amzn, yhoo, homebuilders..no one could explain it then either
5. Massive liquidity, low rates, and no alternatives
6. Very high complaint levels on valuations...these people are NOT participating...if they were there would be no complaint
7. Breadth is best of 6 prior rally attempts
8. Market was at 1150 last spring with worse fundies than now
9. 3 year downtrend (so far) broken at 966-70 (not lost on people)
10. Inabilty to falter on bad news (today); wall of worry
etc etc...or this is the most massive hoodwinking of all time!
Best
david
11. The myopic focus on making $$$ by shorting...
Lots of overeducated idiots laid off from bulge houses formed hedge funds in past 3 years..they have made a mint by shorting..just as the dopey retailer did playing long in the late 90's....equilibrium is coming back to these jokers.
Lots of overeducated idiots laid off from bulge houses formed hedge funds in past 3 years..they have made a mint by shorting..just as the dopey retailer did playing long in the late 90's....equilibrium is coming back to these jokers.