I haven’t really had time to pay too much attention to flippe-floppe-flye. Where does he sit currently?
Now, it isn’t always the case, but typically when the mob is leaning one way, the exact opposite is about to happen. Too many of you misread the signals by what is stated on this blog, penned by an eccentric, professional money manager with almost two decades of success. What I am pointing to, rather, is overwhelming bearishness in a particular sector, like social media 6 months ago, Apple right now and gold after yesterday’s close.
The pattern keeps repeating itself and it’s always hard to bet the other way.
I don’t mean to tout my algorithms again; but it was built for this very thing: mean reversion. When the crowd is too bullish or bearish, the algos pick up on it and register overbought/oversold signals. The system weeds out the weak signals and pronounces the ones to pay attention to.
The ppt must have finally got one right. The bounce is no big deal, that was pretty much always on the cards.
More to the point is this: is the bounce the buy-the-dip opportunity [passed by], or, is this just a bounce that offers the chance to sell-the-rip?
I’ll have an opinion after I crunch the numbers on the COT. They forecast correctly, a buy the dip trade. Are they back on song? I’m not too sure, but after crunching the numbers I’ll have a better idea.
At the moment, just watching the market trade, I’m leaning with the bears. I have nothing that anyone else already has, it’s just a feeling.
Where does flippe-floppe stand? Who knows, he changes every post. All that really interests him is having the latest post in alignment with the market so that he can sell a few more subscriptions.