Lest I interrupt the moo love-fest (and, moo, you definitely were a factor in my decision to "go bull"), I wanted to reissue the very risky statement I made during the weekend posts, which was just two trading days ago……
Well, it's been a while since I've really, really gone out on a
limb. So at the risk of looking like a complete fool this week (or a
brilliant clairvoyant – – you payin' attention, Gawd?) here's what this
poor soul is thinking:
- Those waiting for the fabled "capitulation volume" are wasting their time; it's not going to come until deep into 2009.
- The
symmetric triangle, which I haven't shut up about for a long time, is
going to be a fizzle. I don't think we're going to see a 2,000 point
plunge; or a 1,000 point plunge; or really any kind of a plunge in the
near future. - On the contrary, I think we're going to
start an explosive rally, and it's going to start this week. It might
even start as soon as tomorrow (that is, Monday).
Markets
do the unexpected. It seems everyone has joined the Slope party and
wants to talk about how bad things are and how low things are going to
go. Plus everyone is expecting the aforementioned triangle to usher in
an inevitable plunge and buying opportunity.
I've looked at
chart after chart after chart, and what my (relatively objective) eyes
tell me is that everything is about to go up. Gold. Silver. Oil. Wheat.
Kitty Litter. Equities. Everything.
