"Doug Kass Tweeted the other day that the thought the market had seen the bottom. Today he appears on TechTicker to explain his views a bit further. The gist: he's not a permabear or a permabull, but he does think sentiment has swung way too far to the negative side, and that it's time to buy."
Of course markets will go up-eventually.
Sounds good....Kass has a decent record...about time for him to show up on Kudlow.
The market has seen the bottom of this weekly cycle, based on the VIX being past its recent peak and stochastics being oversold.
The shorts will now buy back their positions, and allow the market to psych itself into thinking that maybe the double dip won’t happen. The VIX will bottom out, stochastics will become overbought, and then the next leg down begins.
I am now firmly convinced that the market is 100% rigged by a few powerful players. The “news” is cast in a positive light on the way up, and a “negative” light on the way down, all to accentuate the market fluctuations. Goldman Sachs and JP Morgan are the ringleaders, with months and months of 100% winning trades. This is not possible unless the timing of the turns is dictated.
The only way to trade is to use technicals, and until the whole system gets flushed out, you just use the 200 day moving average as the ceiling, and sell short. We’ll be lucky if we even break the 50 day moving average. Oh, and don’t forget to set tight stops, especially near oversold or over bought conditions.