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Getting closer

Posted By Barry Ritholtz On January 24, 2005 @ 4:34 pm In Investing,Markets | Comments Disabled

In response to all the readers who asked:

Is it safe [1]

I’m still waiting for the Nasdaq 1975 or so I mentioned last week [2] prior to getting very aggressive. The Dow and SPX hit my targets, and in my mind that is suggesting we are getting much closer.

I made the first of my selective buys today (previously mentioned), and will continue to scale in as we slide further. Note that this is a very different style then playing a trend or a breakout.

If the SPX makes a newer low and then reverses back over 1975, I would take that as a very Bullish sign.

To reiterate what I told several emailers, scaling in is very different than ‘doubling down.’ Please make sure you understand the difference!

Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2005/01/getting-closer/

URLs in this post:

[1] Is it safe : http://www.imdb.com/title/tt0074860/?fr=c2l0ZT1kZnxteD0yMHxzZz0xfGxtPTIwMHx0dD1vbnxwbj0wfHE9bWFyYXRob24gbWFufGh0bWw9MXxubT1vbg__;fc=1;ft=21;fm=1

[2] last week: http://biz.yahoo.com/ts/050120/10204209_2.html

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