So I'm finally back home from Slopefest, and I think I had a great time. Honestly the whole week was a blur and I don't remember much of it at all. I hope I got to meet some of you there, and thanks Tim for pulling it all together.
I was going through some of the pics on my camera, and I don't remember any of them. The following photo is really the only one I'm willing to share, I found the others extremely embarrassing and deleted them immediately. I do have my doubts on whether this was a Slopefest-sanctioned event or not.
The Colonel would always tell me, “Female strip clubs only attract horny dudes, Cuz! Sometimes you need to think outside the box to get poon!” He said that one should visit male strip clubs to find horny chicks. So I think/hope this is what I was doing at this place.
Anyway, I’m glad to be home, and for some reason I fired up a monthly chart of the SPX. May 2010 is about 1/2 over now, and we have one ugly candle or bar forming this month. I do not think this monthly bar looks good for the bulls (long term). This is the sort of monthly bar that would make me want to protect my 401K if I had one (which I don’t). “Long term investors” should look at this bar and start paying attention to protect their gains over the past year.
From 1991 to 2000 we have only three months that compare to the size of this red candle. From October 2002 to October 2007 (the next bull run) we have zero red bars that are similar or greater to May 2010.
Who knows; we could blast off to new highs in the next few months, but this red bar is scary. Makes me want my mommy.
