First off, thank you all so much for your much appreciated comments and requests for me to start posting again. I will start to do so shortly on a regular basis, but until then will post on and off.
Right now the market has carved out a very solid range of 1100 to 1150 on the S & P, and is threatening to break to new yearly highs. Today's selloff, if you could call it that, of 15 DOW points was on the lowest volume (easily) of the year. This could be very bullish. It's been the opposite, meaning that on up days the volume is very light and down days bigger.
Having said that, I think anyone who says day to day they can predict this market is kidding themselves. Technicals aren't working great, and this kind of slow methodical trading doesn't do wonders to that many traders accounts. Most of the guys I respect, including myself, aren't rocking the world at all. It's tough to take hard swings here. Having said that, I do believe there are some very good opportunity and risk reward plays here. We've done well with GE, and C and both look to me to go much higher on a breakout to the upside on the markets. I think the downside isn't immense, and the upside could be explosive. Having said that, and yes I am hedging myself here cause you have to in this market, you could just be tying up your money for a long time.
Many stocks are just trading in a tight range, so its important to watch for breakouts and breakdowns. Maybe more so now then in a very long time.
I also like the AGs here if the market stays strong, and watch GNK, they are IPOing BALT this week supposedly and the stock could get a nice pop into that, though holding it over the IPO could prove risky. I currently own all of these.
I think the market is rallying on future inflationary predictions, its why people are dumbfounded as to why the market keeps climbing. Bears have to be very careful playing that disaster game, its proved long term to be a very bad way of trading...
Tonights show;
Michael Parness: "Trend Success" Tonight: SURVIVAL SUCCESS, How and Why Some People Survive Disaster, and some don't...
This is a MUST listen show, Survival and THRIVE go hand in hand. How you think and react to disaster will decide how you SUCCEED potentially in any area of your life...and it may even save your life and those around you!
WHEN: Tonight 7 to 8 pm EST
WHERE: www.chataboutit.com/about/trend-success
Tune in tonight and let Michael Parness take you to “The Unthinkable” and
beyond. Joining Michael are 3 of the world’s most foremost authorities on
Disasters (manmade and natural), and most importantly, how to survive
them. From market meltdowns to bioterrorism and hurricanes, this
show is a must for anyone who wants to know what to do when the
you-know-what hits the fan.Guests:
Amanda Ripley: Award winning journalist specilaizing in covering
disasters (natural and manmade). Sr. Contributor, Time Magazine,
Author, Speaker, and expert on Disaster Survival, having covered and
seen so many first hand. Amanda has traveled the world studying
disasters, natural and manmade. Her book, The Unthinkable: Who
Survives When Disaster Strikes — and Why, is the first major book to
explain how the brain works in disasters — and how we can learn to dobetter.
Dr. Jim James: Executive Director, Center For Public Health
Preparedness and Disaster Response. Editor-in-Chief, Journal Of Disaster
Medicine And Public Health Preparedness, a peer-reviewed publication of
the American Medical Association. Dr. James brings over 30 years of
experience in the public and private health care sectors-as a clinician,
researcher, and program director-to this challenging and criticalundertaking.
Karen Ketchie: President and CEO, Disaster Management Consultants.
Karen and DMC have developed many disaster-response-programs
currently being used by hospitals, other medical facilities, and
municipalities around the country; teaching at evey level how to prepare
for the worst, and what to do when the "worst" happens. Karen is on a
medical team that was recently dispatched by the government to Haiti,and she just recently returned from her service there.
www.chataboutit.com/about/trend-success
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