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davidfraserdavid
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Did the SP 500 just peak at 1356? - David Banister - Market Trend Forecast

No... It didn't just peak at 1356... Far from it... Although you have been short, Dave, the markets rallied hard and fast....

During the last 6 weeks of incredible market rally Dave Banister has consistently denied that prices would rise. He has been woefully underweight. On July 25th he told his partners to sell: “Still think this 1-2 day bounce then further downside in market resumes. We would continue to advise profit taking on rallies”.
Every trade he’s made over this period has been hugely loss making. Let’s take a look at 1 of his 4 only positions during this market melt-up:
MDGN he bought on August 8th for a price of $12.18. Since then he’s been buying non-stop, taking his exposure to well-over 20% of his total portfolio. He wrote Aug 13: “I was buying on Friday down to 11.04 per share to add to my position…”. A day later he wrote: “I picked up some shares at 10.61 and 10.68 to add to my position”. Then Aug 14th he again bought more shares: “Im nibbling today 10.65”.
Today’s price is….. wait for it…. $9.35. So his first ½ position has lost a staggering: -23%. And he’s been buying non-stop everyday as this junk-play crashes…

READ: http://davidfraserdavid.wordpress.com/2012/01/19/a-review-of-dave-banister-at-atp-and-a-warning-to-all-considering-let-others-manage-your-investment-decisions/

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Début de l'article : This is somewhatof a things that make you go hmmmmmm exercise, but lets examine this 1356 number for a second here.The SP 500 hit 1356 today and put on the brakes and reversed down to 1341 in a possible terminal top move. 1356 actually has fibonacci relationships.If we take the last major rally which was from the Summer 2010 lows: 1010-1370 (May 2011 highs) 360 points ... Lire la suite

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