Negative divergences, sell signals, wedges, ledges etc

In a bull market it all comes down to this: surprises will most likely be to the upside. Don't fight the trend and wait until markets break down in a meaningful way.

Until they do, it pays to be long. Just sit tight and enjoy the ride

http://www.traders-t...howtopic=104487

Edited by Remo, 11 November 2009 - 05:00 AM.

In a bull market it all comes down to this: surprises will most likely be to the upside. Don't fight the trend and wait until markets break down in a meaningful way.

Until they do, it pays to be long. Just sit tight and enjoy the ride

http://www.traders-t...howtopic=104487

Times like this the quotes from the "greats" always come to mind, in an aha moment. These come to mind right here, and it is now so obvious:

Jesse Livermore: “It may surprise many to know that in my method of trading, when I see by my records that an upward trend is in progress, I become a buyer as soon as a stock makes a new high on its movement, after having had a normal reaction. The same applies whenever I take the short side. Why? Because I am following the trend at the time. My records signal me to go ahead!”

I thought there was going to be a crash. The market sold off immediately after my call, but it didnt go down enough. I posted a cautious note, saying the reversal zone was 1070-1080. It reversed, and now we will go to new highs. Furthermore, it shouldbe a fast move as the bears cover.

If I am wrong then I will short below 1080 region.

But I cant get hurt now.

You must be right, there is not sufficient deterioration in the technical set yet, ragged yes, broken no. I suspect one more drive up, then the break commences. Watch out for wild Fed action if it starts maybe large rebates to citizens, tax holidays. Ignore them the damage is done and it is not retractable with bandaids. Best, Islander

I suspect one more drive up, then the break commences.

Something like that propably. Spx 1200 before this breaks...