Good morning! 

The Nasdaq is at record highs this morning!

Who woulda thunk it?

.... I did..  But I did not think it would come so fast.  Of course when the market was plunging in December it was over for all bullish market participants.    And yet, like every other dip since March 2009, the December lows ended up being just another great buying opportunity.

With stocks  back at or near record highs those same uber bears are out telling you the world is going to end.  And yes sadly the world is going to end....  I covered that recently:

It’s All Going To End Badly

However, those same bears today at record highs were saying roughly the same thing 4-5 years ago.


At $SPY  $145  Hussman was saying the market was setting up for a 40-50% crash.

At $293.... the $SPY would now need to crash over 50% just to get back to those crash call levels.  And then another 50% from there for him to be right....

I think having caution is good.  The market is risky.  No doubt about it, we will get another swift correction.  Markets will fall,  fear mongering will reach a fever pitch, and the world as we know it will hang in the balance....  and then, just like December, we will bounce.  And bounce... and rally... and before you know it the market will be back on its feet again, with sights at fresh record highs.

Thats what its been doing!  It's been in rally mode.  Trending higher.  For over 10 years!!!

This is what a trend looks like! ---->>

The trend is your friend.  It's like a wave.  You ride it.  You don't fight it.  If the trend is up.  You ride it up.

If the trend is down.... well... I'll let you answer that.   Where would you ride this chart?

Yes... it is just the inverse of the current $SPY chart.  It's all about perspective.

So those uber bears would want to be long that last chart.  Would you?

We can cite a million reasons why the market will drop.  And trust me there are plenty of excuses to sell.  But at the end of the day PRICE is all that matters.  And the two charts above represent PRICE.  One is telling you to buy and the other is telling you to sell.

You make the choice.

See you in the chat room.

Membership Signup



Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

More Posts by UPB: View All | Private Twitter Feed: Access Now! (For Diamond Members)

Leave a Reply