711 replies to this topic

[lawdog]

so do we battle now for 2 weeks at 21,000? Morons.

[Rich C]

I started to buy in about 3 weeks ago, small amounts, and I've continued to make buys using SPY, and that's doing ok.  I sold a few put options last week, like an XOM May 75 Put, doing ok with that.  It seems that N Korea is not as hot as a few weeks ago, so the market is back to trading on good earnings.  We are nearing overbought again on a daily chart, but with the good earnings continuing to come in, I want to let this run a bit, then I'll take profits.  I'm thinking if we get very overbought and earnings season winds down sounds like a good time to take profits, if we make it that long.  Of course N. Korea could throw a monkey wrench in things any day....

[lawdog]

Hello, Rich, can't worry about nk right now. glad you are making some dough. question now is how far into overbought can we go. the best bulls are overbought and continue to be so. i sold some in today's last 30 minutes. certainly possible to get some decline here. each day just try to make reasonable decisions. be willing to take risk but don't let greed get the best of me. should be more to the upside but it has been a nice run, so i'll bank some of the profits here. thanks for posting.

[lawdog]

this market should keep going higher, looking for spx 2450-2475 by memorial day, probably before then. players don't believe this mkt is for real. 

[lawdog]

giving the market a short leash. may need some backing and filling. declines, however, will probably be met with immediate expectations of disaster, which will help extend the rally.

[lawdog]

sold down to 25%. i feel that any rally today is a gift. we might continue grinding higher, but for now I will be very cautious.

[lawdog]

naz has led the way; now underperforming.

[lawdog]

only 5% left. i guess i will hold that on expectation of either 1) any pullback will be short-lived, or 2) there is no pullback.

[lawdog]

hmm, selling off now. bot some back, 25% long now.

[lawdog]

now back to 45% long. the bears aren't getting out of this that easily.