THINGS ARE BEGINNING TO LOOK AWFULLY STANDARD
My short-term trend indicator is damn close to turning right back up here. I am thinking one or at most two good days have it going back into bull mode. Intermediate and long-term indicators remain firmly in buy mode.
I put some cash to work last week in GSIG and a new position ATNY. Both of these are positions I am willing to go large into. SYNC, YELP and CIS are more speculative, which is why I want to keep them contained. In case you didn't notice, the volatility in all three of the aforementioned names has been considerable over the past couple of weeks. While I am an advocate of embracing risk, you must also have the sense to know how to allocate into risk properly. Putting a large percentage of assets into volatile names that have recently IPO'd or are based in China isn't the appropriate means of cultivating a peaceful disposition so as to keep from malicious acts against small dogs, poor drivers or unruly neighbors.
When all is said and done, my feeling is that this pullback will be looked back on as being awfully standard is scope and breadth. I touched on the fact that I thought this pullback would be a shallow one a couple of weeks back. Nothing has occurred between then and now to convince me otherwise.
There are certain technical points that I would like to see hold. I am perfectly open, however, to the possibility of obnoxious shenanigans for which the financial markets are famous or perhaps infamous.
Here is one terribly standard technical ping-pong event occurring in the Nasdaq
click chart to enlarge
Yeah. Super standard stuff. The latest round of short-term infatuated zombie-tards just can't get away from group think. They couldn't do it in 2005. They failed miserably in 2002. They failed again in 2000. And once more in 1996. Only difference now is that it is an entirely new group. A testament to the fact that the market is the world's greatest high pressure garden hose. Rinsing shit from the cracks of sidewalks before another dog comes along, dropping off a whole new set of turds to be rinsed.
Don't be a turd.
