• Weekly Top 5: Why Calling A Top Isn’t A Good Trading Strategy

    by  • February 15, 2013 10:47 am • Weekly Top 5 • 0 Comments

    Here is this week’s Weekly Top 5.  These are articles that caught my eye this week.  Some are more under the radar, but still well worth a read.

     

    #5 Phil Pearlman interviews Jim Rogers.

    * Jim Rogers is one of the greatest investors of our generation and Phil gets to interview him and ask some great questions.  People pay a lot of money to pick the mind of a market expert with 40 years experience.  You can take a listen here for free.

     

    # 4 Greg Harmon asks if we are ever going to see a correction.

     * With nearly everyone trying to pick a top, Greg points out some reasons that the crowd once again might be wrong.

     

    # 3 Joe Fahmy builds on what Greg had to say on if we are at a top or not.
    * Great quick read about how angry and vocal some of the bears have been.  Also notes how everyone is a sentiment expert all of a sudden and why they all could be wrong.

     

    * We’ve been saying how this year looks a lot like last year and for that reason we think this rally could continue for a few more months.  Remember, the past two years we’ve peaked in April.

     

    #1 Barron’s asking if we are due for a Pause or Pullback
    * This one was eye opening.  It doesn’t even seem to consider the fact this market could continue to rally.  We all know the major concerns, but the bottom line is price action is so very strong.
    * In fact, at the time I’m writing this the SPX has been up seven straight weeks.  Going back to ’80, the results one and two months later are actually very bullish after seven week wining streaks.  Say what you want, history says strength begets strength here.

    About

    Ryan Detrick is the Senior Technical Strategist at Schaeffer's Investment Research in Cincinnati, Ohio. He joined Schaeffer’s in 2003 and is a frequent speaker and writer on stock market and economic issues and is widely sought after by financial media for his expertise and commentary. Mr. Detrick is a common guest on CNBC, Fox Business, and Bloomberg Television and has been quoted in outlets such as The Wall Street Journal, BusinessWeek, USA Today, Reuters, the Associated Press, and others. With a decade of financial industry experience in the investment and financial services area, strengths include short-term trading with an eye toward timely technical- and sentiment-based trading opportunities, and advanced option trading strategies. Mr. Detrick received a BA in finance from Xavier University, an MBA in finance from Miami University, and has earned his Chartered Market Technician (CMT).

    http://schaefferstradingfloor.com/

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