If we can't squeak it out this week ...i hate to say it but maybe into Monday or Tuesday of next.
I hate thinking I need to wait that long but this is how the game is played..
I'm looking specifically at the RUT for my analysis but.....if it does come about a glance at the S&P says ..
maybe the SP can hit that upper trend line area of 1379
for the record S&P hit a 1374.36 for a high.....now that's getting close!
S&P although not my forte' may still have a crack at the 1379-ish area if we can test and break todays highs tomorrow
seeing how we closed at 1371.70.... All in all I'm happy with my forecast up until this point and the price action.
I hope someone either stayed away from some serious losses trying to short this thing ,..or better yet made some serious donuts today.
trade well,, and stay tuned.. I'll be giving a few more posts and then taking another break soon..
I'm sure there are some out there that wish I would just go away so they can get their board back, .and stop abuseing them as contrarians.
I really don't mean to over do it,..but I'm checking myself out for a few weeks.
cheers! ....and trade safe :bowrie:
Contrarian investing
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(Redirected from Contrarian)
In finance, a contrarian is one who attempts to profit by investing in a manner that differs from the conventional wisdom, when the consensus opinion appears to be wrong.
A contrarian believes that certain crowd behavior among investors can lead to exploitable mispricings in securities markets. For example,
widespread pessimism about a stock can drive a price so low that it overstates the company's risks, and understates its prospects for returning to profitability. Identifying and purchasing such distressed stocks, and selling them after the company recovers, can lead to above-average gains. Similarly, widespread optimism can result in unjustifiably high valuations that will eventually lead to drops,when those high expectations don't pan out. Avoiding investments in over-hyped investments reduces the risk of such drops. These general principles can apply whether the investment in question is an individual stock, an industry sector, or an entire market or asset class.
Contrarians are sometimes thought of as perma-bears—market participants who are permanently biased to a bear market view. However, a contrarian does not necessarily have a
negative view of the overall stock market, nor does he believe that it is always overvalued, or that the conventional wisdom is always wrong. Rather, a contrarian seeks
opportunities to buy or sell specific investments when the majority of investors appear to be doing the opposite, to the point where that investment has become mispriced.
While more "buy" candidates are likely to be identified during market declines (and vice versa), these opportunities can occur during periods when the overall market is generally
rising or falling.
Edited by Mr Dev, 25 February 2008 - 05:10 PM.
