After several weeks, we finally got a SELL signal. When everyone started saying market is due for correction, market kept going higher and after so many weeks we got the actual signal. That's why having a strategy/plan works in our favor. If we continued listening to news and TV noise then you would have exited market long back and missed all the remaining upside, Isn't it!!!!
3/18/2012 Market seems immune to correction for now, well it will happen in future somehow...Read Now As we know, the rally started in late December 2011 is intact so far. All who missed the rally or prematurely exited the market are waiting for pullback. Remember, market likes to "penalize" maximum people. When everybody is expecting a pullback, market keeps going higher thereby causing more frustration. But how higher will this rally continue!!! Do we really care?
We are hearing about PULLBACK from past 3 weeks in news, TV channels, trading blogs, etc but see how market has managed to creep higher slowly and steadily. Those who prematurely exited the market, hearing to all that noise are getting frustrated as they missed the upside while those who are waiting for pullback are getting impatient as market keeps creeping higher without any real pullback. But we believe all those who are following this blog are very much at peace...
Everyone on news, or in trading world, or in general is expecting a PULLBACK or SMALL Correction. Guess what! Market does not like to follow but rather ALWAYS likes to surprise. Its the element of surprise that defeats the enemy, Isn't it! So market continues to make new high, however it is doing so by creeping higher rather than roaring higher. All those who missed this rally which started in 3rd week of December 2011 are getting frustrated as each day market rises a little bit. The eagerness to get in the rally is HIGH and they are loosing patience. So, Are we concerned? Do we know what to do? Is this the best time to get in!!!...
Market maintained its steady climb for past couple of weeks. Bullish sentiment are very high as many people feel they missed the rally and WILL BE scrambling to get in. Now that earnings season is almost over, market will rely on global news and economic conditions for further direction. What to expect in near future???
Happy new year to all, may this new year bring better times and happiness along with peace of mind. Sorry for the delay in the blog post. Today's post will be short.
Market managed to gap up on the 1st trading day of the year, however the question is how long can this go on!!! Euro-zone crisis is not resolved and Ratings agency review is due this month. We might see a sharp reversal once the news is out. Earnings season will start in 2 weeks and ma For now enjoy the upside, BPNYA has already given us BUY signal so stay on track until we get a SELL signal. Last week it seemed like market would rally based on the news out of Euro-zone but it was not enough. Euro debt crisis kept the pressure on the market. Every time market tried to make a move higher, it was not successful. Next week is very crucial as 6 member US Congress committee needs to come up with $1.2 trillion in order to avoid compulsory massive spending cuts across the board (including defense) as outlined in August. But to avoid any US debt ratings cut (by ratings agencies) they have to probably come up with much more than just $1.2 trillion. As of now, no progress is made by the committee and both parties could not agree on any compromising solution to the problem. One would think that by now they would understand the gravity of the situation but don't forget these are politicians and they always play their game.... So what's in store for the markets!!!
As expected, last week market had a bumpy ride as all the Euro-zone drama was unfolding. Initially, it all started with Greece default concerns and then the spotlight shifted to Italy debt crisis. As we write this, the news is that Italy passed austerity package and PM resigns so that new government can be formed. Most likely markets would take this as positive news and rally will resume this week. But for how long and how far!!!
Last week of October, market staged a massive rally with the assumption that Euro-zone crisis was resolved for now. But before the dust could settle, Greece threw another curve ball and we were hit by a roadblock. Now everyone in Euro-zone is scrambling and trying to convince Greece to accept the bailout. Isn't this frustrating and at the same time ridiculous!!!
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