Replies to post #5244 on Short Term Trading Member Forum

[Blackbelt1]

Only...
your certainty goes in the bulls' favor. :)

I would feel a wee more comfortable with a put-call ratio a hair lower--could happen soon of course.

Also, irrational exhuberance can continue for weeks, months, and even years in some cases.

The last few weeks have given me a bit of respect and humility concerning Hurst cycles. At a minimum we will likely see the upward momentum arc over into the New Year. Depending on fundamentals, we could see a substantial selloff--or not.

Black

[arjunah]

lexus, I'd say the only thing you might have overlooked is that an overbought market can always get more overbought. and might there not be a ton of buy stops sitting right above 1200 on the S&P?

[airedale88]

lexus, i'd say you are correct in waiting for a little bit in that a 20 wk cycle low is due end of this month to very early jan. i don't think the pullback will be more than a move to the lows of this little trading range we're in but that will be a better buy spot.