Revisiting the topic since my last similar post: If You're Friends With P which was on Oct 28.
So lets see, on October 28, a month and a half ago, we were at 1063 on the SPX. And today, lets see ... 1107. Wow .... a whole 4% higher. Very impressive.
And that was a nice steady rise right? No? Very volatile? So sorry to hear that.
CPC is getting squirrely again. It was trending up last month as we started to correct. The fast MA was responding but the slow MA was still flattening out ..... not quite the same scenario now. The CPC has gotten bullish again, with glimpses of uber-bullishness (contrarian peak), yet the slow MA is starting to turn up (signalling a bearish turn of events in the future). Things look ripe for a trend change on a few different timescales, not just the short ones. CPCE is giving similar indications.
Anyways, do like Matt Sharp says, be friends with P(uts). Not this short dated stuff tying to plays the volatile waves, but something nice and low in the mid-late 2010 range. That should do nicely :)
From your friendly neighborhood permabear who you should ignore like drunk uncle Walt at the family Christmas party.
