Getting closer

Monday, January 24, 2005 | 04:34 PM

In response to all the readers who asked:

Is it safe

I'm still waiting for the Nasdaq 1975 or so I mentioned last week prior to getting very aggressive. The Dow and SPX hit my targets, and in my mind that is suggesting we are getting much closer.

I made the first of my selective buys today (previously mentioned), and will continue to scale in as we slide further. Note that this is a very different style then playing a trend or a breakout.

If the SPX makes a newer low and then reverses back over 1975, I would take that as a very Bullish sign.

To reiterate what I told several emailers, scaling in is very different than 'doubling down.' Please make sure you understand the difference!

Monday, January 24, 2005 | 04:34 PM | Permalink | Comments (2) | TrackBack (0)
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Um, isn't the point where the evil dentist started asking "is it safe?" the point where he started dishing out the pain?

Just asking...

:-)

Posted by: Chris | Jan 24, 2005 7:19:08 PM

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