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Michael Noonan Edge Trader Plus Michael Noonan is the driving force behind Edge Trader Plus. He has been in the futures business for 30 years, functioning primarily in an individual capacity. He was the research analyst for the largest investment banker in the South, at one time, and he... More
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  • Stock Market - Bears Schmares. Where Is It? 0 comments
    Feb 3, 2013 11:13 PM

    Sunday 3 February 2013

    Markets can remain irrational longer than you can remain solvent.

    We cannot count how many times, over the past 4 years, the number of people who have been salivating for a bear market, and not a few going short in "anticipation." This is not a bull market. This is a central planner's market, and with Pinocchio Ben's backing, there is no one
    with pockets deep enough to counter the fiat-fueled up move.

    The one thing that gave pause throughout every call for a bear market just being a whisper away, including those faux-pundits declaring one
    is imminent, is the trend. It never turned down. Such a simple, no
    brainer. Let's see what the market says.

    Since the 2009 low, what has unfolded is a uptrend, defined by higher
    highs, higher lows. Nothing more need be said.

    SPH M 3 Feb 13

    The net gains from one swing high to the next have gotten smaller,
    but there are no signs of stopping the move up.

    SPH W 3 Feb 13

    A slow and steady move up is a market with no resistance, and there
    is not a single wide bar with increased volume to the downside. One
    thing we know for sure, it takes time to turn a trend around. Even the 2008 disaster took a few months from the high before its dramatic

    Ironically, there were very few bears prepared for what followed, and
    now many are prepared for what does not exist.

    The simple factor of a defined trend should keep the bears in
    hibernation until central planners give up funding the market, and that
    does not appear to be any time soon.

    Know the trend; don't fight the tape. Anyone who thinks he can divine the future is a fool.

    Been there.

    SPH D 3 Feb 13

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