Edited by ogm, 08 August 2013 - 07:49 AM.
Sell signals abound. Every bounce should be sold.
Posted 08 August 2013 - 07:48 AM
Posted 08 August 2013 - 08:07 AM
Edited by redfoliage2, 08 August 2013 - 08:08 AM.
Posted 08 August 2013 - 08:18 AM
The market is rolling over. Internals on all indexes have rolled over and are in a downtrend mode.
Every bounce is a selling opportunity.
Seasonal weakness in September October.
Fed taper guaranteed now.
Retail investors are euphoric, pouring record amount of cash into stocks. Margin borrowing at all time highs.
SPX earnings estimates keep coming down, while PE's keep going up.
Greed isn't going to pay off.
are you long or short? I presume LONG?
I added to longs yesterday on the flush. Nothing bearish around yet. Had a 20 point sell off, which is nothing in the context of the strong and POWERFUL rally we have seen IMO.
Edited by fluid, 08 August 2013 - 08:19 AM.
Posted 08 August 2013 - 08:26 AM
Posted 08 August 2013 - 08:28 AM
sorry, market sell off was 7 points
As I say, nothing alarmist and I presume you are long.
No I'm short now. Russell and SPX.
Sell signals are in place. I posted charts over the past couple days. Why would I be long ?
Edited by ogm, 08 August 2013 - 08:30 AM.
Posted 08 August 2013 - 08:39 AM
How do you expect to profit from shorts when retail stocks like Victoria's Secret are bursting to new highs?
Btw, speculation and maniacal chasing, aren't bullish things.