It looks like we will get to new highs on S&P faster than I thought. Having said that, I am not sure it will be easy being long at new highs. For those who want to short the market, the goal is not to be early. There will be an opportunity to short, but at higher levels. New highs first.
Denleo
Short-term
Started by
denleo
, Apr 12 2007 03:14 PM
1 reply to this topic
#2
Trend-Signals
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Posted 12 April 2007 - 03:29 PM
It looks like we will get to new highs on S&P faster than I thought. Having said that, I am not sure it will be easy being long at new highs. For those who want to short the market, the goal is not to be early. There will be an opportunity to short, but at higher levels. New highs first.
Denleo
I am cautious as I continue to have upside targets since the double bottom call.
As noted before, I am not as bullish as Jun-Jul 2006 bottom call, but, just to remind you that the continued series of short-squeezes which led the rally.
It is odd to think that we will see that scenario, but remember, break-out is breakout, and if you bet on "breakout failure" by shorting at higher... it will be interesting.
$NYA made a new high. It is breaking out and I noted that it is leading markets.
Good trades
Edited by Trend-Signals, 12 April 2007 - 03:30 PM.
