I am estimating that when the market opens tomorrow it will first go up higher than Monday and then down, that is where the selling short idea comes in. If not I wait for this to happen Wednesday.
On the front, it will be a busy week as more than 100 companies in the S&P 500 index report their results. Notable companies on the schedule include Morgan Stanley ( MS ), Halliburton ( HAL ), International Business Machines ( IBM ), Apple ( AAPL ), Microsoft ( MSFT ), Verizon Communications ( VZ ), Yahoo! ( YHOO ) Chipotle Mexican Grill ( CMG ), United Technologies ( UTX ), Boeing (BA) Coca-Cola ( KO ), Qualcomm ( QCOM ), General Motors ( GM ), McDonald's ( MCD ), Starbucks ( SBUX ), Amazon ( AMZN ), AT&T (T), Visa (V), Biogen ( BIIB ), AbbVie ( ABBV ), and VF Corp. ( VFC ).
Entry: 2130 (or better 2132)
Stop Loss: 2135
1. Target: 2116
2. Target: 2085
UPDATE, 3 DAYS LATER:
Both 1. Target and 2. Target hit, dead on :) Even exceeded it. Low today was 2076.6. (2. Target was 2085)
- "The Four Horsemen Of The New Economy" - October 2, 2000
- "Cramer's Four Horsemen Of Tech" - September 25, 2007
- "Giddy up! The Four Horsemen of Tech" - July 17, 2015
"Is it just coincidence that these articles all discuss the same thing at the previous peaks of "bull market" advances? Probably not. The psychology of market advances, and particularly late stage advances, are all built upon the "exuberance" and "short-sightedness" of investors. As "greed" is fed by a seemingly inexorable rise in asset prices, the belief "this time is different" grows."