Replies to post #109016 on Savvy Trades and Investments

[SSKILLZ1]

Researcher59, I clearly sold too early in some stocks, but I still think 4600 is the top, and believe it won't be broken. So given that view, why would you buy things now if it breaks 4600 on a closing basis I will have to reevaluate, although I doubt it as I think the top could be happening as early as today quite possibly (short-term). There are plenty of stocks that have gone parabolic recents and rsis in the 70's and 80's not a great time for an entry point. The 500 index has three gaps on the chart unfilled it is rare that at least some of them don't get filled technically in the coming weeks. You might get away with one gap, but three gaps in a short-period of time some if not all are gonna fill. If it is the last gap that is a 7% decline. I thought 4400-4600 would be the top when I started selling getting close to 4400, but now near 4600 I feel much more negative than 4400. Look at the 500 index the rsi for the index is over 70. I do strongly believe the 4600 level will not be broken on a closing basis, which mean there is almost no upside if you believe that, I beileve that a 3%+ selloff in the coming weeks has an excellent chance of happening and 5%+ selloff has a good chance of happening. Whih means alot of stocks can fall 10%+ from current prices under that scenario. I will be a buyer at that point. Nobody made any money off chasing. Time will tell. All is just my opinion, and I could always be wrong though.