Here is the thing about Stocktrader. Some of his picks run, some of his other picks dont run. The picks that dont run will never be mentioned again and those threads burried in the pile. When someone reminds him about his bad picks, then he simply makes the statement that he took it out of his portfolio.
When he makes calls like this, same thing. He will either be successful or not. If he is successful, then this thread will constantly be placed at the top. If he is not, then it will be buried.
The overall market is at a point where it could choose to go higher or lower at this point. I would have to say the bias is bearish, but the way things have been trading it could definately go either way.
I stole this image from a youtube blogger. This image depicts the multi-year S&P chart with monthly bars. This is a bearish chart. The current run resembles exactly how a bear market works. You have wild dumps and then rallies back up to a certain point followed by another wild dump to an even lower low. We might be in the first series of bear market rallies such as back in 2001.
However, everyone sees this. Everyone is constantly on television and in articles stating how bad the economy is and how we are in a bear market. Many notable traders are expecting the market to dump. When did the market ever dump down when everyone was expecting it?
Well, Im not going to make a call. I say if the market slides then short it until there is a noticable inflection point then go long until it rallies back to a moving average or other pivot point. If it breaks upward, then you might want to go long.
By the way, I stole this image from the following link.
http://www.youtube.com/watch?v=AcA4EYIvfeM
