Originally Posted by mact3333
Stay bullish guys...dont let the European disasters distract you...this mkt will grind out new highs soon enough...we will climb a wall of worry once again.
Guys, do yourselves a big favor...plot 1 and 2 year chart with SPX, then overlay the chart with the VIX...when VIX gets below 15(think int term top) you unwind your longs and start to accumulate some shorts...when VIX spikes above 25-ish you start to re-accumulate longs...when bull mkt finally peaks I believe the VIX will be near 10 level(think long term top)...if it ever reaches this level, you better run from your long positions as the bull is likely over.
The answer is likely in the charts!
Hope all is well everyone...I last posted on here 3 months ago...hope you agreed with me...we will be be making new highs...europe was a just a distraction...metals showed the QE3 move a full month before it actually happened.
Still fully loaded with AGQ, GDX.
When the VIX gets crushed towards 10 level(not below 15 as i originally said as adjustments have to be made for QE3) and TVIX below a buck, then we are getting close to the final top...dont think "top" until well into next yr(second half most likely)...this bull run will get tired sometime next yr...then most of the easy money will be made on the short side.
Metals still have an explosive move to the upside , then it will get crushed like all bubbles eventually do.
I will be bullish until SPX takes out 1600, then I become slightly cautious...wouldnt surprise me if we touch 1600-1700 before implosion happens