Not
much change today in the NTSM analysis.
Still HOLD.
NTMS switched to Sell on 22 February. Since then, NTMS analysis has been Sell or Hold; therefore, I am still conservatively positioned with only 30% invested in stocks.
Thursday, April 7, 2011
Double Top?
“The
psychology behind a double top is that it wipes out the shorts and pulls
everyone into the market. It is usually on declining volume which we have had.
I think there is a fair chance here that we see a decent pullback. However, it
could also reverse course and breakout to the upside. I just think we are
overdue for a more significant pullback and this ugly topping pattern is
classic. Every day looks like a reversal break out wiping out more shorts and
pulling more longs in. I can't imagine there are many people left who are
heavily short this market. Oh, and we are almost at the 2 year anniversary of
this bull!” – dmorse (ClearStation poster today)
NTMS switched to Sell on 22 February. Since then, NTMS analysis has been Sell or Hold; therefore, I am still conservatively positioned with only 30% invested in stocks.
NTMS switched to Sell on 22 February. Since then, NTMS analysis has been Sell or Hold; therefore, I am still conservatively positioned with only 30% invested in stocks.
