Well, what the pro's are going to do is start to take profits and if we look to close the day BELOW 900 on the S&P 500, then, we could lose quite a bit and trade down to maybe, 880.
If that we're to happen, then I would be a very big buyer of the 3x leverage Small Cap Index-TNA that I spoke earlier today about at $27 roughly.
But, we have a lot of data coming out this week. Some of it will be bad. But, this market has looked at every decline in stock prices as an opportunity to buy! As long as that continues to be the fact...we will work ourselves higher.
And, this thing could really turn into a "buying panic" because now that we are OFFICIALLY POSITIVE FOR THE YEAR; this is going to be headline news. And, the people who don't do this for a living-the little guy who cashed out at the bottom-is go to see how much he has missed and will start panicing and buying at any price.
When big volume comes into this market and prices surge-I will let you know when this is happening-things will be almost at a peak. And therefore, at that point or in that weeks worth of trading, it will mark the top of the market most likely. Not, the top period but, probably for atleast the next 3 months until earnings come out again.
But, with China heating up. Anything is possible!
This is very hard to figure out! Stevan VanNess