Market Reversal Is Underway

I have sold all of my short term positions in Charles Schwab (SCHW), Manitowoc (MTW), United States Oil ETF (USO) and the ProShares UltraCrude ETF (UCO). I think that the long expected reversal is finally underway.

Comments

[Roger Knights:]

Don't just sell--go short.

Jun 24 05:40 AM

[User 436103:]

why?


On Jun 24 05:40 AM Roger Knights wrote:

> Don't just sell--go short.

Jun 24 11:11 AM

[SivBum:]

do disclose which stocks you are staying long ...

Jun 24 12:00 PM

[nova:]

Speaking about predictions without any substance, even a broken clock shows correct time twice a day.

Jun 24 01:52 PM

[CLH:]

This is an article? Garbage

Jun 25 07:47 AM

[perceptions...:]

Let's get a little more descriptive then.

The DOW & other major markets, will re-test their March lows, prior to the end of 2009!


On Jun 24 01:52 PM nova wrote:

> Speaking about predictions without any substance, even a broken clock
> shows correct time twice a day.

Jun 25 08:26 AM

[Mad Hedge F...:]

For sure. Now that we are solidly into a correction, I have been flooded with requests from readers to call the next bottom in the S&P 500. Well here it is. Brace yourself. Put it on a Post-it-Note on your computer. It is without a doubt and unquestionably going to be 880, 850, 830, 800, 750, 666, or 320. That last number works out to be 90% of the book value of the S&P 500, which was the low seen in the 1930s depression. Yes, that depression, not this one. You are really asking me to solve a one billion variable equation, because that is the number of direct and indirect participants in global stock markets. If the few green shoots out there start to die off, the meltdown in commercial real estate accelerates, the Fed missteps by draining liquidity too soon, or there is another unforeseen shock to the system, then you can go with the lower of these numbers. If we are distracted by the health care debate, emerging market economies continue to perk up, and this strength helps our technology stocks stay alive, then sleepy narrow trading ranges will dominate, and the higher support levels will hold. But no matter what happens, I will be able to come back to you in three months and claim that I was right.

Jun 25 09:11 AM