btw, here come all the I told you so's from the bears (to which I roll my eyes) but I do think that a 5% dip wouldn't be the end of the world and that takes us all the way back to $397, while a more reasonable 3% would have us around my target profit of $405/$407. And yes we're frothy. And yes we've already accounted for the best possible recovery. But actually it probably has more upside. But this is all about institutions. And while they can manipulate the markets, they can't manipulate the balance sheets. And the start of the month will mean a renewed focus on individual stocks and reallocating funds. Which means indexes will be free to do what comes naturally. Which currently is not going up. And May will be another good month for stocks, but we can take some profits next week and still end up a neat 2-5% higher by the end.
And yes, in managing my retirement portfolio, I understand their pain. Maybe stocks are expensive, but bond yields will only go up and its either stay in stocks or go to cash..... and there really needs to be something that appreciates faster in the next 6 months than cash!! *exasperation*
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wow, not enough buyers for the dip... continues to fall every time we see concerted buying action. For example, just now, after the 3pm hour, tries really hard and slowly gets to $417, maybe $417.10, I blink and its back to $416.70
@CJS04, are you telling me that its impossible to end May above $430? It may dip more than once before it falls you know? I respect your opinions but are you really willing to call the top sometime in the next 4 weeks?
CJS04
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@pogicraft are you a day trader or a long term swing trader / investor? Two different things. One who plays options on a daily basis and one who buys and shorts shares for longer holds. Yeah I am saying it’s dropping below your levels and even under 300 in the coming months. I have a 5 dollar window where it will end up by late summer into fall. Why? Cause of the wedges and trends over the last 12 years as well as fundamentals. PE numbers etc.
pogicraft
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@CJS04, usually a day trader, sometimes hold overnight, mostly options. So yeah, youre probably right on a fundamental level but I'm not putting my money on the market going nothing but down from here.
I think we're going to be a little more stubborn than that.