Waggie, I've noticed from reviewing some of your earlier posts that you used to work for Paul Tudor Jones and Victor Sperandeo. That's experience I can only dream of.
You've also posted recently that the DOW's pullback so far has lasted 28 days, and that the median bull market correction is 46 days (sounds like VSperandeo). I believe VS says in his first book that early stage bull markets tend to last a couple of years (my memory may be incorrect, though).
Therefore I conclude that you wouldn't be surprised if the markets show weakness for another three weeks or so before resuming a move upwards.
(As an aside, I suppose it would be interesting to know what the standard deviation is in days for bull market corrections. If it were 10 days, you'd know that about 95% of corrections are over after 66 days)
However, I'm surprised to see you've held LLL for 5 years because I thought Sperandeo was a short-term/intermediate term trader.
I've noticed that there are quite a few stocks that appear to be setting up nicely despite the market's recent action, such as UHCO, LTD, MAS.
Meanwhile, stocks that I had owned in late '03 and sold, such as ET (took profit), PGH (cut loss), and ADM (took profit earlier than I wanted), look pretty dreadful. Comments?
