SPDR S&P 500 (SPY)

[leftyg]

Gleno..re: your quote of another predicting a "suckers rally"..

I think that is a far-overused phrase, probably by ones who are positioned in the other direction.

I think about it like this: If I can capture 2-3 or more bricks of profit in a short term trend..then take the reversal when it comes and capture a few more bricks of profit in that direction.. who is the sucker???

Your guru is a longer-term investor, I believe..so it makes some sense for those customers who hold long term to wait for lower prices. But, for those who are a little more agile, it seems like a profit is a profit is a profit..regards.