Thread: coolhand's Account Talk

Dannyboy has a lot of knowledge and I think he’s very knowledgeable.
D

Huh! What?

I'm lost

Bartender, I'll have what he's having.

Originally Posted by dannyboy

Dannyboy has a lot of knowledge and I think he’s very knowledgeable.

D

My bad, I was in a big hurry and didn’t check before hitting send. The he mentioned referring to Coolhand. I could blame this on a bad wreck that I was in ( 6 weeks in a coma, broken back, etc) but I can thank GOD for helping me to recover.
D

Originally Posted by dannyboy

My bad, I was in a big hurry and didn’t check before hitting send. The he mentioned referring to Coolhand. I could blame this on a bad wreck that I was in ( 6 weeks in a coma, broken back, etc) but I can thank GOD for helping me to recover.
D

Glad to hear you are on the road to recovery.

This week's NAAIM mean average fell almost 20 pts. That still keeps it in a bullish posture, but I note that the bears are now fully short and leveraged. There still isn't a lot of them, so there remains a healthy respect for the longer term trend (up). While I am not trusting of this market, I do respect the trend, so until something breaks I am looking higher.

A rose by any other NAAIM...
May the force be with us

This week's NAAIM mean average dipped a little more than 2 pts., which is almost meaningless. The reading itself remains bullish, so these money managers continue to respect the longer term bullish trend. The bears remain fully short and leveraged and they have been on the right side of this market in the short term. I think it bears repeating what I said a week or two ago that this is an election year and that generally means the market finds a way to stay afloat if not outright advance over time. Be that as it may, this is not a normal election year (is anything normal anymore?), so we don't want to get complacent. But as long as NAAIM remains bullish, the odds are generally pretty good that the downside is limited.

Well, since my last post the market has given us some selling pressure of a more concerning nature. I would not say it fell apart, because it didn't, but is it an early glimpse of more to come? Even if the market starts to retrace its short losses, will market participants sell the rallies?

If you are now harboring trepidation about this market, you can join NAAIM in that sentiment. This week's NAAIM mean average fell about 18 pts, which now puts the reading between neutral and modestly bullish. The bears remain fully short and leveraged, but there are more of them now. The bulls remain fully long and leveraged. With such a reading we can't be sure what the market might do over the next week, but maybe the oversold nature of this market sees price retrace at least some of those losses. Maybe.

Basically, NAAIM is now playing both sides of the market. No doubt, many will want to buy the dip and that has worked for some time on hard sell offs. This time may be no different. So, it is up to each individuals personal risk tolerance how you want to be positioned moving forward. I wish everyone luck in however you decide to approach current market conditions.