Sunday, March 7, 2010
Giving up the bear??
it seems that some of the staunchest bears are starting to turn bullish. is this the capitulation that could mean the top is in? Tim Knight, the mole.. both are sounding like they have just about given up their bearish stand based on fundamentals. Atilla at xtrends however, is still quite bearish. His kaching trading account got hammered in december and january, people thought he was crazy to hold so many shorts. but it all came back and more from 1/20 - 2/5. I only know, to me, the fundamentals are still lousy with banks not writing down their bad loans to the real market value of the property, with a huge number of mortgage adjustments coming this year (this month) which will no doubt result in a huge increase in foreclosures and therefore a huge increase in inventory, resulting in dropping of real estate prices. then there is the world debt situation with greece, portugal, spain, ireland, italy, and little iceland. On the other hand, all the moving averages or linear regression curves that i use, are still pointing up.... so the market is up whether i think its gonna dump or not. the trend is up... and that is that. trying to pick the top has been a costly mistake for me totally. I need to meditate..
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment