THIS IS NOW A MOMENTUM MARKET...IT WILL GO UP UNTIL IT HITS SOME CEILING...PROBABLY 9,000.
AND IT WILL GO BACK DOWN...
OBVIOUSLY THIS IS NOT A LONG TERM BULL MARKET...THE NEWS IS JUST TOO HORRIBLE...
THE FED IS PUMPING LIQUIDITY...AND THE BIG BANKS, WEALTHY SPECULATORS, AND OTHERS IN THE MARKETS WILL USE IT AS LONG AS THEY CAN...
BASICALLY, THIS IS A DAY TRADERS MARKET NOW...NOT A MARKET TO HOLD FOR A WEEK!! A WEEK IS AN ETERNITY IN THIS KIND OF ENVIRONMENT...
MY HUNCH IS THAT THE MARKET CONTINUES TO SOAR...UNTIL THE SMART MONEY DECIDES ITS TIME TO FLEECE THE SUCKERS... AND THEN IT WILL GO DOWN...
OF COURSE SOME "DATA POINT" WILL BE USED AS THE EXCUSE FOR THE MOVE, UP OR DOWN, IN THE MEDIA...WHICH MAKES IT ALL SEEM LOGICAL... BUT ANY DATA POINT WILL DO...WHEN THE MARKET IS MASSIVELY OVER-BOUGHT OR OVER-SOLD... THE HEADLINE EXCUSE IS JUST MORE BULLSHIT INTENDED TO CONFUSE THE RETAIL PLUNGERS...
LIKELY RANGE BOUND BETWEEN 8000 AND 9000 FOR THE REST OF THE YEAR...
THERE IS ENOUGH LIQUIDITY IN THE HANDS OF SPECULATORS NOW SO THEY CAN DO ALMOST ANYTHING...SO I DON'T THINK A NEW SUB 8000 MARKET IS GOING TO HAPPEN...
NOTE WELL: THAT NEWS, DATA, PROFITS...THE ECONOMY...NONE OF THAT MATTERS NOW... SOME BROKER UPGRADES IF ANY COULD HELP...SHORT TERM.
THIS IS ALL MOMENTUM...UNTIL AN OVER-BOUGHT CONDITION DEVELOPS...
THEN THE SWING BACK TO OVER-SOLD, ETC ETC...
THE ECONOMY STINKS TO HIGH HEAVEN AND WILL CONTINUE TO STINK... IT JUST DOES NOT MATTER IN THIS KIND OF MARKET...
BUY THE DIPS...AND SELL THE BLIPS...
ONLY DON'T HOLD FOR TOO LONG...TWO DAYS AT MOST BEFORE YOU PULL THE TRIGGER ON TAKING PROFITS OR LOSSES...
BEWARE OF GETTING TRAPPED IN AN "INVESTMENT"...
DOWN IS A LONG WAY...AND COULD BE PERMANENT...OR LEAD TO BANKRUPTCY... THERE WILL BE MANY BANKRUPTCIES AFTER THE FIRST OF THE YEAR... PROBABALY THE AUTOS AS WELL...!
THE HAPPY DAZE WILL ONLY BE A PASSING PHENOMENON...UNTIL SOMETTHING IS DONE FOR THE MIDDLE CLASS AND THAT COULD BE YEARS AWAY...
