Replies to post #2594 on Justa's Dive Bar

[Lone Ranger]

c,

hoping your wish list comes true

[Lone Ranger]

c,

any new thinking? is this just a correction of recent run up or does it portend retest of prior lows? still holding on to some SDS which i foolishly bought a couple days ago :)

[chainik]

IMO Hussman got it totally wrong. Looking outside of US (eg RSX or EWT), this is a stellar advance with no easy entry points. Both "investment" and "speculative" merits are there. There will be "fast and furious" pullbacks to clear overbought conditions, but the trend is up.



<The advance of the past couple of weeks has been very characteristic of the “fast, furious, prone-to-failure” advances that tend to clear oversold conditions. Unfortunately, these advances are hardly predictable, since the market can persist for some time in an oversold condition that simply becomes more deeply oversold. At present, there is only a moderate “investment” merit for accepting market risk here, and very little “speculative” merit given unfavorable market action that has also cleared the prior oversold condition>

[chainik]

<My wish list for the early summer:

SPX 900
RSX 20
EWT 9-10
QLD 40>

Almost there (except for QLD). Raised more cash. TRF is at 20% premium to NAV (who the xxxx is buying?).

No good plan. Don't like to stay too long, don't want to short aggressively, don't want to buy dips.

I'll stick to short-term (1-2 days) trades only; mostly QID and, maybe, QLD.