Way to insult the whole community there Vic...and STILL you continue to make contributions to the board!
All were/are talking this is different this time etc. New 1990's new 1982. I have never seen such stupidity in all my life. But not ONE of this come out hard and strong on a move before it happens. This is bar none the worst forum out there for the initiated or inexperienced. I would never recommend this place to a newbie.
Meanwhile, the market just tripped on a loose shoelace today...we'll probably be back at new price highs sometime next week.
Fib I am not saying that there won't be more UP days, I am not saying that tomorrow or especially Friday might not be UP. What I am saying is that when you have an entire community pushing hard as if this is the breakout of something new and dramatic. And you have the RUT monthly significantly pushing above +2 sigma, you have the whole community pushing long. Now we all know this was/is a strong trend, but my point is that when you have people that are supposed to be "experienced" with 30 or 40 years and they are going on at these danger levels like they were... it is plain down irresponsible. They never say "caution". They never even mention that it is possible that buying here might be the top for months to freaking years! To hear them that is not possible, and then they claim to have an open mind about the market.
Worse, you get the economists on a TA board. Bernake is doing the same thing now as 3 years ago, but now all these bulls understand everything that's going on and why this and why that with the Federal Reserve, and act like they studied under Becker @ U Chicago, PHD in Economics bulls on a TA board.
The daily is a 5 minute chart that's blowin off. The Monthly is a 15minute chart thats blowing up. It won't last, but ultimately might now go down as much as we think (845 RUT hit within 3 months no doubt at least that), or it might go down way more than we think. Everything is on the table INCLUDING testing or near testing 2009 lows in due time.
Always, no matter if my stupid TRIN system failed me week after NFP. I always PLAN for possibility of RUT hitting +3 or MORE on month and possible retest next month. That contingency goes into my trading plan, but I know that likely it doesn't make it there and that's IT for a very long time. The very best thing that could happen for bulls is just a blistering 10-12% correction that does the major work in a week or so.