3 replies to this topic

[CLK]

No reason to post, most looking the other way. Need a bull only board.

Edited by CLK, 20 May 2007 - 02:03 PM.

[Rogerdodger]

As long as we have 50% or more short around here, the downside is going to be difficult, I think.

Sentimentrader.com did pop a bit Friday on both the short term and longer term.
Also, the 5 day sum of the daily Arms Ratio (or TRIN) has fallen to 3.64 as of May 18 signaling an impending short term correction.
Also II is about as high as it's been in a while:



But NOBODY has believed this multi-month rally according to many sentiment indicators.
We have recently had record shorts. That has just been kindling for a bear barbcue.
Maybe that's turning a bit now.
I would vote for a POP and FLOP on new S&P highs, especially if sentiment quickly gets more bullish.

Terry Laundry:

We start May with a bullish T Theory market forecast based on all the T components discussed last month. The market's upside momentum is about as high as it ever gets resulting in a oversold (EDIT: I think he meant overbought) condition but prospects for further gains into the projected November peak remain quite good.
...for the next 6 to 7 months all these concepts call for a strong rally to an important peak later this year and there are no T Theory concepts that would argue against it.
The only outstanding question for my T Theory is its remaining conclusion that this Fall we will see a major peak for equities, and next year, the beginning of a new bear market. No conclusions are likely until we see how the trend develops into the Fall.

Edited by Rogerdodger, 20 May 2007 - 10:25 PM.

[thespookyone]

In an intermediate sense, I may be one of the biggest bulls here. But in the short term, I see no reason to be so. If you are a long term bull, you should be desirous of a correction here, I feel, to improve the overall health of the market. Without correction, this market would clearly implode at any near term top, the results of which-would be none too bullish.

[JAP]

In an intermediate sense, I may be one of the biggest bulls here. But in the short term, I see no reason to be so. If you are a long term bull, you should be desirous of a correction here, I feel, to improve the overall health of the market. Without correction, this market would clearly implode at any near term top, the results of which-would be none too bullish.

Keep a eye on the China markets, especially the Shanghai index. I believe they will trigger another sell-off like they did on 2/27. I have a feeling it's going to be a lot more bloody this time around.

Or... you could simply embrace the CNBC hype and go long... "Buy higher, sell even higher". -Give me a F'n break!