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^ start selling. This rally will run out of steam soon. The big money is still on the sidelines. The shorts will be back with a vengeance soon.
Technically we've got one shoulder and a head. We need to see a retreat to 800ish level on the S&P500 in the next 3 months before it really runs and the next bull cycle begins (the second shoulder). Technicians call it a reverse head and shoulders.
Some time in the next 2-3 weeks this rally is going to stall. It will meet resistance at or near 950 and go sideways for a while until people lose faith and pull out. It will fall back to around 800 and off we go.
Right now is a great time to consolidate your profits and get ready for another round of sweet deals later in the month or early next. Don't be a pig. We've had a record rally and that only spells one thing: it's over (for now).
I agree with cthree with this rally not lasting too much longer. I have already sold completely out of my AAPL about 3 days ago (only taking a small profit) and am waiting for RIMM to go up alittle more before selling out of it. Then either picking up some reverse etfs or just staying in cash till the market drops again.
05-05-2009, 10:55 PM
