Market just turned bearish

[Mvic]

Just thought I would mention that stock traders almanac has a seasonal trade that has returned an average of 50% from the mid term year low to the pre presidential election year high. That would put the dow at about 16000. Who would have predicted in mid 2006 with the dow under 11K that we would be sitting at 13500 less than a year later? They did and they even said they expected 4-5000 points, so far they have been very right. even with the sub prime fiasco, the high gas prices, housing melt troubles etc. Simply put the power of this Bull needs to be respected whether you are long or short.

On the other hand their MACD dow and SP sell signals triggered May 15 and 10th respectively and they too have a good track record.

 

[jficquette]

Quote from 99atlantic:

I have a penis


My penis feels the market still is relatively bullish.

That's cuz you high.

John

 

[Mvic]

Some people trade with their penis and others with their balls, personally I find controlling the mouse a lot easier with my hand, though I will admit that scalping is a lot less interesting my way.

 

[hajimow]

Quote from Mvic:

Some people trade with their penis and others with their balls, personally I find controlling the mouse a lot easier with my hand, though I will admit that scalping is a lot less interesting my way.

good one

 

[hajimow]

I am not asking for any credit as it is too early.
I hope everyone starts to pour some faith on my correct observation as of yesterday. It will be too late to confess that yes we have a correction after market is down 7% after 2 weeks. remember I observed market correction and not a market crash. In market correction, if you want to take advantage of it, you should be very nimble and use some gut feeling, TA, observations, news,.....

 

[feb2865]

Quote from 99atlantic:

I have a penis


My penis feels the market still is relatively bullish.

A penis or a peanut???

 

[feb2865]

Quote from feb2865:

A penis or a peanut???

he probably meant to say peanut

It's okay to be confused brother. We understand.. We will care for you no matter how handicapped, just come as you are.

it's all good.

 

[hajimow]

Can I claim that I was right?

Where is the golden belt of market prediction award?

 

[hajimow]

My another observation:
AMZN will drop big big time soon (in a week). Be alert on that. Today's price reaction might say something different. If you get it the right time, you will be awarded handsomely.

 

[S2007S]

Quote from hajimow:

Nitro, remember I said short term correction and you are talking about S&P of 1600 by the end of the year. I can not disagree with you on that. {Actually my personal opinion is that S&P will end up 5% up this year. That means that it will close the year lower than what it is now.} Believe me 5% correction will wipe out many high leveraged long accounts and their panic selling will damage more. I never said Dow at 10000 or S&P at 12000 or ......
Many people are saying don't scare me of correction, I can handle 20 points down in DOW. It won't be like that. I mean 20 points drop in DOW. Let me give you an example, AAPL can go to 90 and still nothing has happened. AMZN can go down to 58 and is still 20 points higher from 2 months ago. Corrections like this will kill many novice traders and traders with short term memory who tend to forget the past.

My observation is that tech stocks are in trouble. Maybe "trouble" is not the right word. They are out of gas to go higher. Today many stocks tried to go higher but failed miserably. Decliner far outpaced advancers and .......
I don't say correction will happen. I said it started as of 3PM today and will continue. Correction and not crash.

agree....