They can call it what they want. They can use whatever measures they want to use. It doesn't matter to me, so be my guest. Call it a bull market. Tell me the recession is over and the economy is stabilizing. Break out your prettiest colors and paint a dazzling chart. I'm not getting distracted.
Okay, the cheerleaders with the Pom-Poms might do it. But only for a moment.
Yes, I'm looking higher. I'll play their game. It's all about being on the right side of the market anyway. But we are hardly out of the woods. Fact is, there are signs that a pullback is coming, but it doesn't have to be ugly. The last one certainly wasn't.
Sentiment is getting more bullish. We might get away with that for awhile considering the underlying strength and number of investors who were left behind during this run-up, but sooner or later when we least expect it, the hammer will fall.
So I'm watching. The Seven Sentinels are in better shape now than they were two days ago, but I can't cast caution to the wind. Next week is OPEX and you can probably expect some volatility in the next few trading days. It could get tricky again in a hurry.
But it depends on how well sentiment holds on a down turn. If we get bearish again any selling will more than likely be contained. But if that behavior changes to a bullish stance on a down leg watch out. We don't want bullish sentiment on the way down. So far that hasn't been happening, but like I've said it depends on how comfortable the masses get.
So no complacency for me. And Poolman's got my back.
Okay, the cheerleaders with the Pom-Poms might do it. But only for a moment.
Yes, I'm looking higher. I'll play their game. It's all about being on the right side of the market anyway. But we are hardly out of the woods. Fact is, there are signs that a pullback is coming, but it doesn't have to be ugly. The last one certainly wasn't.
Sentiment is getting more bullish. We might get away with that for awhile considering the underlying strength and number of investors who were left behind during this run-up, but sooner or later when we least expect it, the hammer will fall.
So I'm watching. The Seven Sentinels are in better shape now than they were two days ago, but I can't cast caution to the wind. Next week is OPEX and you can probably expect some volatility in the next few trading days. It could get tricky again in a hurry.
But it depends on how well sentiment holds on a down turn. If we get bearish again any selling will more than likely be contained. But if that behavior changes to a bullish stance on a down leg watch out. We don't want bullish sentiment on the way down. So far that hasn't been happening, but like I've said it depends on how comfortable the masses get.
So no complacency for me. And Poolman's got my back.
