In response to all the readers who asked:
I’m still waiting for the Nasdaq 1975 or so I mentioned last week prior to getting very aggressive. The Dow and SPX hit my targets, and in my mind that is suggesting we are getting much closer.
I made the first of my selective buys today (previously mentioned), and will continue to scale in as we slide further. Note that this is a very different style then playing a trend or a breakout.
If the SPX makes a newer low and then reverses back over 1975, I would take that as a very Bullish sign.
To reiterate what I told several emailers, scaling in is very different than ‘doubling down.’ Please make sure you understand the difference!
Um, isn’t the point where the evil dentist started asking “is it safe?” the point where he started dishing out the pain?
Just asking…
:-)
Exactly!