This rally has been a beast. I can't tell you when it will end, but I can tell you why. When prices get too high for the bids to support them and a critical mass of shorts capitulate, it's over. Volume will be your tell. Volume has been falling but I could still see more lighter volume melt up to 800.
For the most part I think just watching the wave 4 is the right strategy. I'm going to try to manage my core around the ups and downs, but I'm going to wait until we have more clear direction and this thing is closer to burning itself out before hitting it big.
Tuesday, March 17, 2009
The Doc and his reserve troops are smartly watching and waiting for the bull to exhaust itself before risking more of his troops in battle… I, for one, appreciate him sharing his battle maps, love seeing the channels, Doc, thanks!
Posted byAmy Jamison at8:20 PM