As we amble our way toward Christmas (and, yes, it is "Christmas" – – – not "Holiday") things are getting progressively more quiet here on the blog; I don't expect traffic to pick back up until January 2nd. But I'll say this……….
Yes, I'm enthused about a large number of bullish patterns (for me, anyway), and I'm talking about plenty more long setups than I usually do. But, just to be clear, my multi-year view is still aiming for the target you see below:
My belief in certain techniques (and gurus) has definitely been shaken this year, but my long-term viewpoint has not. So, in case it isn't abundantly clear, I just wanted to say so.
Continued good luck with your wrapping and dinner preparation duties. We're hosting Christmas this year, so it's going to be a big one. Oh, and thanks for the beautiful Christmas ornaments, which I just received today.
Life really is stranger than fiction, isn't it? Who would have ever guessed last winter that we'd be looking at something like this?
Let's dust off the bearish nature of this blog a bit, shall we? My largest short position right now is XLU, on which I have an entry at 31.26 and a stop at 31.71; since something seems to be up with the bond market (hmmmmmmm!) XLU is just about the only big ETF down today.
Does it mean anything? Given the past ten months, probably not. But here it is:
I'm starting to wonder if I should more aggressively pursue the domain WallOfWorry.com since I keep focusing on bullish ideas instead of bearish ones. Anyway, I bought a largish block of URE earlier today. My chart-brain (bullish on this) conflicts with my state-of-the-world brain (real estate?!?!!?!?!?), but this is one of the finest charts I've seen in a while. A break above $6.99 would totally seal the deal.