Tuesday, April 14, 2009

It happens



I posted this on my Anti-Cramer blog tonight along with a Market Club video. The S&P is straggling up the lower trend line and will either fall like hell out of the channel or fool us all and run to the upper trend line. All we can do is follow here as there is no high probability trade either way. It happens.

A

8 comments:

PENN STATE Eric said...

A:

240 minute chart?

Allan said...

Yes, I use Joe Paterno's age a lot in my analysis.

PENN STATE Eric said...

Try using his wins total of 383. I think he's well over 240 years old, I just hope he can live many more... Thinking about the dawn of that day breaks my heart.

Anonymous said...

Allan,

You sure you want to fight the FED talking up the economy? Your analysis may show a big breakdown coming, but if the FED keeps putting out positively spun news, the sheeple out there will eventually follow. I suppose at that point, your analysis will come inline with the market sentiment, but right now you and the FED are at odds and I am not sure which way to bet.

Allan said...

No contest. The Fed follows, it doesn't lead. Then again, so do I. Here's the deal: I am not short yet. I am awaiting some sign that this cumbersome rally is over. I am not long either, except for a few special situations. The next big opportunity will be on the downside, when the time is right. We are just not there yet.

ia said...

looks like that isn't today either

ia said...

(i'm patiently waiting too. I jumped off the rally train too early)

PENN STATE Eric said...

"Sheeple"...HILARIOUS! But true/sad none the less