Written by d_walter on October 27, 2009 – 11:33
We’re setting up for some kind of bounce shortly. I have a hard time believing that the gamblers can stay away for more than a few days at a time.
Some bothersome signs looking out over the next few weeks include some of the strongest stocks off the bottom in March (i.e., WYNN, X, others) getting [...]
Written by d_walter on October 27, 2009 – 07:08
One of my tells for entering some kind of intermediate term correction would be a significant decline in one of the pillars of momentum traders (i.e., BIDU, AAPL, GOOG). BIDU is currently down 20% premarket.
Let’s see if it means anything going forward.
Written by d_walter on October 21, 2009 – 14:52
We’re seeing some worrisome action in the major financials. It may be nothing or it may be a harbinger of things to come in the major market indexes.
No matter what, we’re way overdue for some kind of meaningful correction.
Written by d_walter on October 20, 2009 – 13:01
The S&P500 is approaching major resistance around 1120. So far, we’ve had rolling corrections in various sectors, but I expect the next two weeks to mark some kind of interim top in the major indexes.
Longer term, I’m still bullish even though it can’t be justified on economic fundamentals. It doesn’t have to be. The most [...]
Don't follow the crowd.
