MarketVVizard's Market Thoughts: What market phase are we currently in?

MarketVVizard
- What market phase are we currently in?

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Top 1. Jan 17, 2004 1:04 PM

» MarketVVizard - What market phase are we currently in?

First, I should say that busting out on the NASDAQ Friday on high volume does not bode well for me smile

I still have the small QQQ short position. Up volume was 81%. Put/call still very low. NVLS trade is closed (put to me) making me up a couple percent for the year.

My gut says we are at the top, but I've been burned so many times in the last year I will play it cautiously. I also share the liquidity theory rationale for higher prices right now.

The following is from "Tomorrow's Gold" by Marc Faber. Sorry, these scans were best I could do. Hope its readable.

<img src=http://www.creationfaq.net/VViz/LifeCycl...>
[VViz: I added the red note]
<img src=http://www.creationfaq.net/VViz/Phase4Ev...>

-- posted by MarketVVizard