Saturday, September 26, 2009

Saturday Rock Blogging: Raving and Drooling aka Sheep (this market is full of them)


Anonymous said...

You change your opinion every week. One week the market is gona crash and the next, it's going to the moon????????

pythagoruz said...

Hey, I never said this market was gonna crash, I just said it was full of sheep.

My opinions about market direction are based on the charts. Saying that the market is full of sheep really has nothing to do with price action and has alot more to do with the headlines I read.

My current outlook for stocks is that they are in an up trend on all time frames. That has been the case for some time now with the exception of the recent pullback, which turned out to be barely a blip.

Certainly in a market bubble like this one, there is the risk of a meltdown at any time and I do not think stocks are a good long term investment. However, there are plenty of opportunities for disciplined traders to make money in this cyclical bull market.

Hope that helps clear things up anonymous.