I just want to say for the record, I am NOT arrogant! Why? Arrogance comes from weakness, when you are RIGHT and its a FACT, it's not arrogance, its the TRUTH! Hehe!
Man o man, I love ALL of you. XOXO. Even the haters. Love to all. Holiday spirit!
OK, so some market info. I definately lean long still and continue to view 10,300 as potential upside. I think the S & P has 1000 bullseye target going for it now if we can stay above 900 here. It'll be interesting to see what happens tomorrow. I would LOVE a gap down on no news, that would be infinately buyable in my opinion. I don't see that happening on no news, though. A lot of funds will not want to miss this move and will try to play catch up. The little ones we own should do very well here, but make sure you trail them with stops now!
Thing is, this is why, in my opinion, TRENDS are so powerful and give you such a HUGE edge. It's not me stroking myself, which I have no problem doing, it's reality. There's no coincidences in life as far as I can tell, and therefore the fact that almost every year we get the rallies we're getting now are PLAYABLE for HUGE MONEY! Sometimes, like I said last week, you have to close your eyes and jump in the pool, even if the water is a bit cold. Do you think I'm Mr.Bull? Of course not, my longer term views have not changed in the least,other than the caveat I've given which is that if the Fed completely tanks the dollar, which they are in danger of doing in my view, then the market would go up, but still be worth a lot less. I've said here quite a few times the Fed should buy mortgages and lower rates to 3 to 4%, which is what they are now doing! I think they are doing it wrong, they are trying to do and be all things to all people and usually doing that results in complete failure, but hey what do I know? I'm just a dude who trades!
We SHOULD get a follow through day, if so watch the laggards, small caps in similar sectors are a good place to start looking! Let's see what shakes out! I have to run, but more tomorrow, just trade here is my call. BUT, trade smart and patiently. RULE!