Update to our weekly chart. I have added a LONGER TERM Head and Shoulders potential that COULD be forming a right shoulder in this area......and may take some time. If valid and broken would portend a VERY serious retreat down the road.
One of my customers is a capital leasing company, he is downsizing to half his size, let 24 people go. The demand for BUSINESS LEASING has "dried up" and he "had to reduce his overhead costs to survive".
I KNOW what THEY are telling you in the MSM, and you know what I'm saying, where I stand.....I'll go along with it if I believe in it. I was all over the 1998 bull bubble, stocks were flying, but I also got out before the carnage.
I flat out sat this rise mostly out, in ALL but 2 accounts, I had said my reason was "to remain liquid".....a business in distress doesn't make one want to take too many chances.
And a bull is a bull for any number of reasons, but even during 1980's bull we had the 1987 crash, 1998 tumble. Businesses were expanding their capex spending.
Today's landscape ain't 1980's, it is going to TAKE TIME TO HEAL, you can have your "seasonably adjusted" data.....I can see for my own 2 eyes.
I believe a correction of some magnatude is brewing here.
Duratek (comments section erdoing with spam, but if you leave a legit comment,I usually repsond)
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Hi Duratek,
I really like your blog but the head and shoulders formation that posted on the dow is kinda stretching. I think it's still worth playing from the long side until you see the correction happening. There are still some stocks breaking out and the leaders of the rally haven't fallen. Once they fall, that will be your clear signal. Otherwise, dont fight the trend until it's broken.
Thanks for your kind comments,
I am adapting a 60% strategy, leave 1st 20% on table, let rend establish, then grab trend 60%. Leave last 20% for someone else.
More cautious with shorting as volatility usually kicks up.
Friend, I think at BEST last 20% sitting there.....I am on sidelines going into Sept....you KNOW they haven't kick started us from the worst Banking crisis in history....
G-d help us if we mirror 19230's style Bear, we would be at top of 1930..... I wish different, hearing from SO MANY how they cannot find job, or have taken one a huge step down from previous, or half employed, or dropped off roles.
The rate is decieving.
I am worried about a BOND TRAP....and BUBBLE
Thanks for reading my blog and taking time to respond.
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