yup the bear is slowly gaining traction again
gonna be a mixed landscape for the next 6 months IMO
you can win on the long side but gotta be picky....overall gold will win and stocks will lose though....
than after this 6 months of transitioning....its time to be a super bear
gonna be a mixed landscape for the next 6 months IMO
you can win on the long side but gotta be picky....overall gold will win and stocks will lose though....
than after this 6 months of transitioning....its time to be a super bear
This week should give you good insight as to where the markets are heading. You just need to look at the support levels and hope they hold. When they dont hold support, you should sell a portion of your positions and wait to re-buy them around the next support level.
Key levels to watch are S&P 1010-1015, this is the next major support we'd like to hold. Ideally, it'd be nice to hold around the 1025 level. Fibonacci says we could retrace back to appx S&P 960, so that'd be the must-hold level; otherwise, there's nothing but air down to 905.
However, I dont think we'll see those levels. We'll probably catch a nice bounce here soon and get back over 1040 and that should be more solid support.
Lots of discounts out there after the Mutual Fund mania of last week. I believe they're going to be coming back to load-up and start off Q1 2010 (ie November 2nd 2009) with a big boom.
A chase for performance is what we'd like to see.
