Quote:
Originally Posted by Hisam135i
Vanity what are your thoughts on the market, things are becoming very difficult to forecast
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I'm out of my shorts ATM because things got too fuzzy these last few days. The latest rallies, especially today's, is certainly a very large short squeeze. Most likely the market is going to form a solid double top (since we broke 1335, again, 1400 is back on the table). However, I personally am not confident playing this up as i think it's clear what will happen afterwards. This double top would be similar to what we saw form last year, as well as in 2007. The MA's did slope downwards, but unfortunately the price action didn't converge them and we merely bounced around this last month. I think it's clear now there will be a last rally upwards. From there, there should be a great view
I'm in full cash now, just waiting for a clearer entry point. No point in having my portfolio bounce around with the indexes. How have you been, Sam?