Is this really happening

[mtwokay]

tums,

thanks for the laugh on this awfully slow grind up.

i'm sure most can relate.

 

[spinn]

So.............a ten percent move in 2 months isnt excessive?

So we should expect the market to go up 60% a year forever......

Cool

Quote from heynow:

According to Dow theory, a bull market goes thru 3 phases:

Accumulation
The Big Move
Excess


This is the Big Move, we haven't even seen Excess yet.

http://stockcharts.com/education/MarketAnalysis/dowtheory1.html

 

[Tums]

Quote from spinn:

So.............a ten percent move in 2 months isnt excessive?

So we should expect the market to go up 60% a year forever......

Cool

DJ can hit 24,000 in 18 months.

but, I am not making the prediction.
The future is very difficult to predict.

 

[myminitrading]

Quote from austinp:

There are pull backs to trade almost every day... this is so much like late 1999 - early 2000 that it's hard to believe.

Today was no exception: price action gapped up, sold off below daily pivots, crept back up on top of pivots as usual, buy the pivots, let 'em ride, cover for a bunch of ES / ER points... been doing it all week now. Can we please do it again tomorrow?

Just buy every dip to key intraday support levels, and hold on. May this extended trend last forever!

Hum, you should have been doing that a month ago.

 

[lindq]

Quote from NihabaAshi:



Simply, you have seen this before...many times before.

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term

Nope. Haven't seen it before. Very rare for a market to rally this long with low VIX and no pullbacks on the daily charts. I haven't had a trading signal in three weeks. And only oils the week prior to that.

So, I have to say that this IS unusual. And a great patience exercise for anyone who trades on weakness!

 

[Cache Landing]

Quote from spinn:

So.............a ten percent move in 2 months isnt excessive?

So we should expect the market to go up 60% a year forever......

Cool

A little while back I was predicting a correction too, but that window has come and gone.

You should just check historical charts. Notice what NOV is usually like, even during bear markets. The phrase 'thanksgiving rally" isn't a new concept. I would'nt be surprised if we saw another +6-8% by december.

Yes a drop is innevitable, but predicting one in NOV/DEC is a losing proposition most of the time.

 

[Tums]

Quote from ACM Trader:

Quote from Tums:

buys some more

And where are we now in that nice chart? Impossible to know, that is the problem.

I think we are on 15.

of course the chart is not to scale. The 4 should be level with 15.

 

[LT701]

Quote from Cache Landing:

A little while back I was predicting a correction too, but that window has come and gone.

You should just check historical charts. Notice what NOV is usually like, even during bear markets. The phrase 'thanksgiving rally" isn't a new concept. I would'nt be surprised if we saw another +6-8% by december.

Yes a drop is innevitable, but predicting one in NOV/DEC is a losing proposition most of the time.

there's 2 interpretations

rallying through aug-oct means it's a very strong year

or

it's a 'rules thrown out' year

i honestly dont know which

 

[Voodoo-king]

The market has served traders at the expense of investors the last 10 years, maybe the market has too many traders and too few investors these days?

 

[heynow]

Quote from spinn:

So.............a ten percent move in 2 months isnt excessive?

So we should expect the market to go up 60% a year forever......

Cool

I don't think we've seen excess yet. Valuations have been going down for 5 straight years. Only now do we see an uptick. Excess is PEs above 20 (in 2000 it went to 40), we're at 15-16 now.