Friday, February 5, 2016
Breaking The Trendlines!
Watched my buddy CBW again on options action today. He showed the chart for 5 different companies from 5 separate sectors, and all 5 were examples of companies breaking their long term uptrend line from the market bottom of 2009. His line in the sand remains 1780 on the S&P 500. We will probably see a few violent counter trend rallies thru the rest of the quarter, but if we breach 1780, we could have a panic freefall. Staying defensive/paranoid for the time being! I also believe that the large U.S. and European banks are holding a lot more bad energy exploration debt than any of us know, and many European banks are starting to trade like penny stocks! We won't get fooled again!
My spine remains pretty much the same....I remain able to lift weights, so long as I stay with machine exercises where my back is braced, and to take long walks. No idea for now as to when running may return.