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The Bear Couldn’t Stand Being Quiet for so Long
By Rob | May 8, 2008
“If you expect nothing and are prepared for anything, you should never be surprised.” Brian
“Practice does not make perfect in trading or anything else; perfect practice makes perfect. Training must gradually build competencies and correct deficiencies in a manner that sustains a positive mindset and optimal concentration and motivation. ”
Dr. Brett
Kirk said it best today: ” If you wanted to find a reason to sell, it wasn’t difficult. You could pick your poison: 1) another record high in oil, 2) weak home sales, 3) a huge increase in consumer borrowing, 5) a pullback in boomer spending, 6) trouble brewing in the housing bailout, 7) a new SEC reg to force disclosure of more losses and tragedy in Myanmar. ”
THE DOLLAR 1998- PRESENT
An interesting post by reader at Worden tells how he believes that the 200 day moving average is now serving as resistance for higher prices: I took a look at how SPY acted in the last bear market. It was apparent that the 200-day moving average acted as overhead resistance in that bear market, so I went to a daily chart with a 200-day moving average and was amazed by what I saw. The periods of interest (tantamount to sell signals) are Nov 00, early Feb 01, May 01, Dec 01, Jan 02, Mar 02 and Dec 02. To generalize, if the SPY price gets close to its 200-day moving average, look out below! Of the above events, the trickiest one was the Dec 01, Jan 02 and Mar 02 combination which comes across as a triple top. By May 03, it was obvious we had a different animal–one that snorts rather than growling. Anyhow, take a look at the SPY and its 200-day moving average right now.
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