respect
harsel gibs
______________________________________________
watch scrubs | watch west wing online | watch lost

respect
harsel gibs
______________________________________________
watch scrubs | watch west wing online | watch lost

http://theartofcontrariantrading.blogspot.com/2...

http://theartofcontrariantrading.blogspot.com/2...

He also says:

As you know if you have read my book or followed my blogs I think that an enormous bearish crowd developed in the stock market during 2008-09. It is certainly bigger and more unified in its bearish convictions about the economy and the stock market than any I have seen since 1966. Bearish crowds this big don't disintegrate quickly. And the screen shot above is just one sample of the relentless negative story about the economy that is still being told by the media.

Such stories belie the assertions I have heard from bearish market commentators recently that “everyone is bullish and euphoric” about the stock market. The public is decidedly NOT euphoric. Quite the contrary, it is depressed – much more depressed than is the economy, in fact. It will be years before the psychological damage wrought by the Crash of 2008 is undone.

As a side note I might also point out that the “everyone is bullish and euphoric” theme is a typical mistake made by investors who like to think they are contrarians. They seize on whatever evidence they can find that makes their own prejudices a “contrary” opinion. But one must be careful to fade the public, not some small group of professional market commentators. And there is no doubt in my mind that the public right now is extremely bearish.

http://www.rallymonkey.com/oldvideo.php

http://blog.afraidtotrade.com/nasdaq-comes-into...

and the Dow is roughly similar.

We've got to close solidly beneath 875 or else it could be a bear trap.

I would be more comfortable shorting on a clean break of 870 which could set-off an avalanche of long (buy) stop-losses and trigger in new short-sales but right here you're right it's an epic struggle. Supply & demand rules markets and our goal is to figure out who is likely to win (or winning) and go in that direction. At a critical crossroads – per Mark Douglas thinking – it's probably best to wait until one side emerges as the victor.

Virtually everyone I've talked to or read online is discussing the Head and Shoulders and some are even taking it as a requirement that it will happen.

When sentiment gets so strongly in one direction, a 'surprise' is often more likely than those expectations being filled. Even if it's a temporary bounce, it will surprise a lot of people who are convinced we're going down from here.

Then again, I see overwhelming evidence for a downside break, but nothing is guaranteed.

Yesterday was a bull trap as Meredith W. is a bear, and bears short at pumped up prices. She got that on Monday for herself and other smart money bears.

Game on.