Tuesday, May 24, 2005

Will it Ever End

When momentum gets moving it is hard to stop, think of a train going down the railroad tracks. When this many bears are still around after the run up we have had, it is safe to assume there is more upside ahead.

When will it end? Well I have thought now for a couple of days we needed to pullback on all the indexes. Instead we moved higher again and now more people think we definitely need to pullback. Do you know what that means? We probably will not pullback.

You have to be prepared for the opposite of what you here from everybody and since cautious longs are not fully invested and shorts are covering and cant find a good entry point there is a lot of nervousness out there to what happens next. So what happens now in the process is a guess. But a rest is needed.

With all the good charts out there still, I am bullish longer term. However, a pullback is needed but I will say once again there is too many folks looking for a pullback so overbought markets can become more overbought.

I am still finding TONS of charts that are breaking out of good bases. This is how it looks in BULL markets. Not only that, all my longs that I have taken past three weeks continue to look great. What more can I ask for, for now?

Swing Long Positions: RATE WEBX TALK AIRT PARL TAGS TPE PRLS IVX TIVO

How about that ENG today. Gave the heads up on it twice 5/10 and yesterday. Up 26% today. Also, WGAT is waking up again. That was first mentioned on April 8th.

Aloha

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