The market continues to act well showing gains on heavy volume, pullbacks on light, that are then bought for positive reversals. This is what happens in a healthy market. The whole year we have not seen action like this in the individual charts and usually after going up some on the indexes we would see distribution days shortly after. That is not happening this time. You know why? Bulls are back in control due to the heavy bearish sentiment out there.
A point I would like to hit on today is the fact that so many people are saying "just wait till the market collapses and then you will see the scam the market is." What??? The problem with that view is not that I disagree with it but the timing is just aweful. Maybe consumers are loaded with debt and cant spen, economy is going to slow down, rates are going to rise, or inflation is going to get us. But it is not happening NOW or will it happen next week.
If you would have played the trend and looked at all the bullish charts out there, you could have made some good money. Instead I hear everyone complaining how they lost money the past two weeks. I recommend reading my blog. :)
Go through the past two weeks and write down the symbols and dates and look and see how much they are up now. It doesnt matter what you think of the market, what matters is performance. I have written in this blog over 20 stocks that have moved up over 15% since May 4. AND IT IS FREE!!!!!
I will update with some more swing longs this weekend. I surfed all day and enjoyed the waves so I want to rest before scanning for new plays.
Aloha
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