Death to the bulls.
So far, so good. The top is in. I think the Nasdaq will lead the market lower. I count an end to the non-stop impulse wave that finished it's abc from the August bottom.
How does the timing look for a move lower in equities and run on the US dollar higher? Do you still see the dollar reacting later with the Markets going down first?
Back from a week of camping and hiking in the Silverton area of southwestern CO. Spent most of the time at Little Molas Lake near Molas Pass. Spectacular area! Highly recommended! And you are probably a lot closer to that area than we are. Aspens started turning while we were there. Will probably be at their peak soon.
Anyway, back to the markets... This rally has been relentless. I admire your confidence in going short here!
On several blogs I could read the exhaustion of the bear pain which bears, one after the other, seem now to convert into late bulls, perhaps at the exact top? For my part I am short since early September, a bit premature perhaps, but when I see some majors stocks like INTC that have already confirmed their huge H&S by broking their neckline and now coming back just below it, it reinforces my bearish outlook. Carl.
pima Welcome back. It's still a long drive up to Colorado from where we are. I gave you a plug for calling the congestion a 4th wave. EWI has red faces now. I've side-stepped most of it and plunged this morning going up to the SP futures highs. My position is actually a bit more short than the model because I bought more than 5% this am. My stop revolves around DJI cash and SP futures. Both making impulsive new highs would get me out of my new shorts/ETFs.
How does the timing look for a move lower in equities and run on the US dollar higher? Do you still see the dollar reacting later with the Markets going down first?
ReplyDeleteHello Steve!
ReplyDeleteBack from a week of camping and hiking in the Silverton area of southwestern CO. Spent most of the time at Little Molas Lake near Molas Pass. Spectacular area! Highly recommended! And you are probably a lot closer to that area than we are. Aspens started turning while we were there. Will probably be at their peak soon.
Anyway, back to the markets... This rally has been relentless. I admire your confidence in going short here!
Where is your stop for your new SDS position?
On several blogs I could read the exhaustion of the bear pain which bears, one after the other, seem now to convert into late bulls, perhaps at the exact top? For my part I am short since early September, a bit premature perhaps, but when I see some majors stocks like INTC that have already confirmed their huge H&S by broking their neckline and now coming back just below it, it reinforces my bearish outlook. Carl.
ReplyDeletepima
ReplyDeleteWelcome back. It's still a long drive up to Colorado from where we are. I gave you a plug for calling the congestion a 4th wave. EWI has red faces now. I've side-stepped most of it and plunged this morning going up to the SP futures highs. My position is actually a bit more short than the model because I bought more than 5% this am. My stop revolves around DJI cash and SP futures. Both making impulsive new highs would get me out of my new shorts/ETFs.
Thanks, Steve!
ReplyDelete