Following up on that last post about timing and making calls in the market. I am of the opinion that many commentators use two crutches when making calls. The first is the time frame. If you leave the time frame reasonably vague then you can call yourself a success when you are nothing more than one who, shall we say, stretches the truth. Because the market oscillates, most of the time you can say you made the correct call but as I've said many times before, forecasting is easy compared to actually trading.
The second ruse that is commonly used is to talk out of both sides of your mouth, "If the market does this then that but if it does that then this". You know what I'm referring to. Heck, if you are going to make a call, make a call! I make them all the time and like anyone, sometimes I'm right, sometimes I'm wrong. Historically I'm right more than wrong but like I keep saying, it doesn't matter. All that matters is if you can bring the bacon home when the day is done.
That call earlier is working like a charm here. The bulls got a little squeeze going and now it has the potential to turn into a big squeeze. Price has improved and breadth is almost even. Unlike the last week or so, look for this squeeze to probably carry into the end of day and if it begins to appear that it won't falter, look for the squeeze to potentially accelerate a bit as some of the shorts are going to worry that they have to cover and cover now.
The second ruse that is commonly used is to talk out of both sides of your mouth, "If the market does this then that but if it does that then this". You know what I'm referring to. Heck, if you are going to make a call, make a call! I make them all the time and like anyone, sometimes I'm right, sometimes I'm wrong. Historically I'm right more than wrong but like I keep saying, it doesn't matter. All that matters is if you can bring the bacon home when the day is done.
That call earlier is working like a charm here. The bulls got a little squeeze going and now it has the potential to turn into a big squeeze. Price has improved and breadth is almost even. Unlike the last week or so, look for this squeeze to probably carry into the end of day and if it begins to appear that it won't falter, look for the squeeze to potentially accelerate a bit as some of the shorts are going to worry that they have to cover and cover now.
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