I expect maybe a 5% correction, alot of sideways chop,
then on to another bull leg higher.
We are basically tracing out a duplicate of 1995-6.
I think anyone looking for 25%+ downside will not get it.
FF - IT top will be a non event
Started by
CLK
, Jan 19 2007 03:24 PM
3 replies to this topic
#2
pdx5
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- Traders-Talk User
- 9,527 posts
I want return OF my money more than return ON my money
Posted 20 January 2007 - 01:36 PM
Agreed, so long as VXO is trading in low range, no big moves.
Slow grind up thru tax day with minor twitches.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#3
arbman
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- Traders-Talk User
- 19,504 posts
Quant
Posted 20 January 2007 - 03:00 PM
You know I have this feeling that people are getting the most comfortable and ready to buy any decline while the yields and growth is projecting the worst outlook of the past 5 yrs. We had 3 less than 10% corrections for 3-4 yrs now, what are the chances that the next correction will be another shallow one? I think the next correction will hit and exceed the 10% barrier this time, anyway...
- kisa
#4
dcengr
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- Traders-Talk User
- 13,391 posts
Member
Posted 20 January 2007 - 04:27 PM
You know I have this feeling that people are getting the most comfortable and ready to buy any decline while the yields and growth is projecting the worst outlook of the past 5 yrs. We had 3 less than 10% corrections for 3-4 yrs now, what are the chances that the next correction will be another shallow one? I think the next correction will hit and exceed the 10% barrier this time, anyway...
- kisa
They need $ to buy the decline... friday's COT shows once again that futures positions are shooting up near record highs (after reducing recently).
What I found bullish was that when the futures positions came off from heavily long positions, price did not react. This may have encouraged them to load up again, as long positions are getting back close to where it was.. but oddly enough, price again did not move.
It seems that money is making a round robin here.. just rotating between buyers and sellers... this chart may illustrate my point a bit more.
Qui custodiet ipsos custodes?
