Make them eat their hearts out. Then when they finally lose all patience waiting for a pullback so they can “buy cheaper” smack them in the faces with a bone rattling downwave and chase them out, then start all over again.
We bought August 27 and November 4 BECAUSE in order to really beat the market you have to position build to take advantage of important trends –which is what is going on now. In fact looking at issues we have commented on the past couple of months — AIG, C, BAC, F we don’t see anything but nascent trends and buy signals. While March 09 was the initial buy point we are now at the first inflection point.
Stop us before we forecast. But remember. We do not stand behind any taerget, forecast or prediction — except to make fun of it. Now for some completely undependable forecasting analysis. From the top of the recent pattern 11258.01 to the bottom of the Kilroy (H&S) Bottom 9621.89 we have 1636.12 points, added to the top figure gives us 12894.13. Do we believe this? Well, we’re betting money on it.
We bought more GM yesterday.
And remember, it’s only a matter of time till they hammer this market. What do you do when they hammer the market, class? You grin and bear it and add on to your position when the hammering is over.
Notice that it is literally impossible to put a short term trend line on the present run. The only usable lines are from Sept 1 and November 4 and these are very good lines. The Basing Point is 11/29 at 10929.28.