Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Friday, December 19, 2008

2 of the last TOP

... I'll have you know I've called 2 of the last tops in the market, And for those of you who are big fans of the "Double Top"... It's one of those.....

I saw this question:

Tough to be too concerned with too much downside here especially with holidays coming; this doesn’t mean there will be a blast off to the upside; markets tend to dip prior to the end of month run up. But of course it has been a humdinger of a year and what a punctuation mark it would be if the market closed on its lows for the year!!!
in the spirit of Get your own fucking blog, I'm going to throw in my 2 cents:

It's important to keep a good mental calender, Traders were hoping for a "year end rally", Well Personally I want to get out before that ends..... so when do I get out? the 31st?.... Now hang on.. Everybody knows that they are going to get out before then... so... get out on the 30th? Now wait a minute... everybody knows that every body knows........

So, Then the question is... Am I going to commit new capital before then.... When should I stop?

.......You know, it's been one hell of a year, I think I want to just get out and have a nice Christmas and new years... take a nice break.....

These are the things going through everyone's mind.

So... Sure there will be some end of year buying for the mutual funds. I'd suggest that it will be a mild bounce for that....

But what comes next.... What is Mid Jan of every year..... EARNINGS SEASON.. for the grimmest Christmas in 10-30 years.

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