CHART OF THE DAY: YOU CAN’T LOSE IN THIS MARKET
17 March 2010 by Cullen Roche
6 Comments
This chart needs little to no explanation. The SPY has now finished higher in 14 consecutive days. You literally can’t lose in this market:
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Comments
TPC – I am a fan and you recently said you began to short the market. I was squeezed several times trying to shot the market and I am wondering if you believe time is getting right.
I am not TCP but am offering my opinion. The market was accused by many renowned investment experts of running up too high too fast ever since May of 2009. Yet, it has only continued to go higher. This is one dangerous market to short. The time to short will come. But the only way to know when to short is looking at the technical picture, not the fundamentals (rich valuations, shaky foundations etc). The technical picture shouted ‘short’ in early Jan but it quickly reversed. Currently the trend is still bullish.
I stopped half of my short position. Looking at this kind of charts make me think that I could have bought just at the top but I’m not letting loosers run too much…
Don’t keep fighting the trend!!! I think it is still too early to short the market. They will try to push it until the 1.200 level…
That’s a record for SPY buddy. Frigging crazy times.
Oh, I can lose money in this market. I have somehow found a way to purchase 3 of 0.00006% of stocks that have actually gone down during the run-up, if that is even possible. Good times!