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jimkane
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I kept waiting for someone to start the topic, but no one did, so I'll do it. Probably everyone will be off this week doing family things. Since I have no life outside trading, I'll probably be in here, wishing the market was open.
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jimkane
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Anyway, I thought when this opened and didn't drop immediately, it was a buy. That read proved correct. Now I am watching to see if it is going to continue at all, or not.
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jimkane
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And people wonder why I'm so discouraged about where things are headed...
http://slopeofhope.com/2013/12/california-careless.html#more-25782
http://slopeofhope.com/2013/12/california-careless.html#more-25782
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jimkane
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Now, watch right in here, this is where they should pick it back up.
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jimkane
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It's interesting what it did, took out the swing point to go to the next level in an ABCD, which produced the reaction. Pretty straightforward stuff.
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jimkane
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So, taking a look today at say AAPL, FB, TWTR, GOOG, and so on, I would say the 'bull' is still quite strong, and has a fair amount left to go. I am not being sarcastic. If this can hit 1824.50 today (as it has), and it still is rising strongly, I can't imagine it doesn't get that 2,000. And so much has been made everywhere about January, that I can't imagine it does anything there, despite all my own timing factors.
I think this will rise and rise and rise, until such time that a 'Black Swan' event happens. As I've said before, in a sense this time it is different, I think, because there has never been money printing like this, on this level, directed right at the stock market, ever in the history of this country. Hence, until an event happens that changes that dynamic, there simply is no reason for this to stop. Armstrong's S&P equivalent of around 3,400 actually seems very likely to me if no Black Swan event occurs before then (understand, in order to reduce my stress I stopped reading all sources like that about a month or more ago, so although I reference him all the time, I have no idea where he currently stands).
I said many times this thing will be up until the last non-chaotic, non-apocalyptic, non-Armageddon day on earth. And who knows, it may rise like Zimbabwe even then. It's just the reality of the situation, I think. Yes, there will be limited corrections on the way, but I can't imagine a bear market until something changes the dynamic, and that will be obvious when you turn on the news and say out loud: "Oh, my God!". Only then, I feel, will a bear market be possible.
I think this will rise and rise and rise, until such time that a 'Black Swan' event happens. As I've said before, in a sense this time it is different, I think, because there has never been money printing like this, on this level, directed right at the stock market, ever in the history of this country. Hence, until an event happens that changes that dynamic, there simply is no reason for this to stop. Armstrong's S&P equivalent of around 3,400 actually seems very likely to me if no Black Swan event occurs before then (understand, in order to reduce my stress I stopped reading all sources like that about a month or more ago, so although I reference him all the time, I have no idea where he currently stands).
I said many times this thing will be up until the last non-chaotic, non-apocalyptic, non-Armageddon day on earth. And who knows, it may rise like Zimbabwe even then. It's just the reality of the situation, I think. Yes, there will be limited corrections on the way, but I can't imagine a bear market until something changes the dynamic, and that will be obvious when you turn on the news and say out loud: "Oh, my God!". Only then, I feel, will a bear market be possible.