10 replies to this topic

[dcengr]

Words like "COMING SCORCH", or "I would not short this market in my lifetime" etc. People keep comparing this correction to the last few corrections. I knew this would happen. Except this isn't like the previous corrections. One, you have every talking head coming out saying everything is fine, economy is strong, etc etc. While the economic data keeps coming out saying otherwise. Maybe they can all read the future, I don't know. My guess is not. What I read from sentiment is complacency, and a lot of knife catching. Meanwhile, leverage is still very huge. Bearishness ain't even near a point where bottoms should be. Only person shorting pops seems to be XD. Everyone else apears to be buying the dips.

[paulstan]

I echo your assessment . . . see my post below. Sentiment is an interesting thing . . . it's slow in changing.

[Cirrus]

I am friends with several 'new' individual investors. I spoke with one today who said he plowed the rest of his reserves into the market because stocks were 'on sale'. My reply was "interesting". I think we are in a scenario similar to 1998. We will have a nice correction and the market and the market will then continue up to maybe make new highs but the rally will not be near as broad as it was to the Feb 07 'top'--if that's what it was. I think some sectors will really fly after the correction.

[da_cheif]

I echo your assessment . . . see my post below. Sentiment is an interesting thing . . . it's slow in changing.

"SLOW"???.....not hardly

http://www.marketwat...r...tw&dist=nbk

[mss]

Words like "COMING SCORCH", or "I would not short this market in my lifetime" etc.
People keep comparing this correction to the last few corrections. I knew this would happen. Except this isn't like the previous corrections.
One, you have every talking head coming out saying everything is fine, economy is strong, etc etc. While the economic data keeps coming out saying otherwise.
Maybe they can all read the future, I don't know. My guess is not. What I read from sentiment is complacency, and a lot of knife catching.
Meanwhile, leverage is still very huge. Bearishness ain't even near a point where bottoms should be.

Only person shorting pops seems to be XD. Everyone else apears to be buying the dips.

I'm not buying dips - not shorting yet eaither.

What a week, but we were warned that things were getting weaker. Warning did not say, "look out below" it did imply a loss of money flow at a faster rate. This weeks close broke the "0" line strongly suggesting much more to come. We should expect a "dead cat bounce" within one to three days.

SPX can touch 1370 real quick and 1300-1325 range is also possible.

We hit the 1373.97, close enough, now the "dead cat bounce" ?
mss

[eminimee]

I don't care.........I'm just making money both ways

[dcengr]

We hit the 1373.97, close enough, now the "dead cat bounce" ?
mss

Possible, but at this important pivot.. I think after a bit lower.. say Qs 41.50 ish is my guess. Maybe Qs 41.

[S.I.M.O.N.]

Words like "COMING SCORCH", or "I would not short this market in my lifetime" etc.

People keep comparing this correction to the last few corrections. I knew this would happen. Except this isn't like the previous corrections.

One, you have every talking head coming out saying everything is fine, economy is strong, etc etc. While the economic data keeps coming out saying otherwise.

Maybe they can all read the future, I don't know. My guess is not. What I read from sentiment is complacency, and a lot of knife catching.

Meanwhile, leverage is still very huge. Bearishness ain't even near a point where bottoms should be.

Only person shorting pops seems to be XD. Everyone else apears to be buying the dips.

I tried to generate some fear yesterday, but i was censored.

[Sentient Being]

At 100% cash in my trading account it's hard for me to be afraid

[eminimee]

I don't know how you can trade if you are constantly thinking about what other people are doing..... or worse....saying. It's tough enough to have conviction in your work.....why add to the confusion.