ETF SWING & DAY TRADING

[Walkingshadow]

The "MAJOR BEAR MODE" was first declared around 12/15 of last year as I recall.

http://www.investorshub.com/boards/read_msg.asp?message_id=9008413

http://www.investorshub.com/boards/read_msg.asp?message_id=8958290

All that has happened is the much-talked about "rising wedge" that was supposed to trigger Armageddon was taken out decisively, and virtually all major indices are hitting multiyear highs. Dow has rallied about 7% since then, RUT has rallied a full 15%, other indices also up pretty big. Now the Dow is within striking distance of its all-time high (11,723), which is less than 1.3% above current levels.

So that analysis from six months ago has been proven flat wrong.

Personally, I am surprised, I thought we would be in a correction (NOT Armageddon, just a significant multimonth correction) by now. But I have yet to see signals that indicate this is imminent. The closest we came was in January, when the put/call began moving towards a bullish extreme. I thought that would develop further, and then we would see clear deterioration and such, but that did not materialize. Instead, the put/call just moved back into neutral territory.

I still expect that correction, but I sure won't go short unless and until I see evidence.

So FWIW, I am long everything except the dollar.

WS