Well I'm feeling more convinced now that this uptrend has more runway. The whale behavior is starting to look like what it did in early 2013.
Let's put it this way, if someone is trying to prime the pump for a new rally to a new ATH, they are doing it right. If it continues to 600 or more, then I can't imagine that it won't explode sometime after that, probably in the new year. U.S. traders will have new money to invest after they sell off stocks to pay taxes by EOY.
And it would be a damn shame if they waste this rising opportunity, because they have to know that building positive market sentiment doesn't come around all that often. Once cultivated, don't blow it, use it (this is exactly what they did in 2013). Because once sentiment turns negative again, it'll stay that way likely for years... again.
I guess we shall see how this all plays out.
What about going back down to 230? You said the market will crash back down to 230, and that you will be making $3000 for every $10 it drops on the way down. You said it could take months to play out, but it's inevitable. Now you are saying it's going to pump to a new ATH?
Expect more of this on the way back down to 230.
For the short term at least, it appears that I got it wrong. I was basing that opinion on the 2 previous head fakes that we had previously this year, as well as 2 solid years of nothing but bear market.
So one can't be a cautious bull now? Predictions have to always be right? A broken clock is right twice a day and 730 times a year.
Besides, it could still turn south back into bear market mode any time the whales want it to. That could happen tomorrow, or 4 months from now. This is not Average Joes running up the price. This is a few deep pocket whales. No one, I mean NO ONE, knows their end game or how high they intend to take it except them.
