It's About Time

Everything is still right on track. The peak I called for at 850 was exceeded by 3%. I can live with that. Today was the first substantial pullback in quite a while. A big 4% down day on the S&P.

My target of 750-770 appears to be right on. The only question is how long it'll take to get there. The usual 2 steps forward (down), 1 step back (up) should take place.

I went short on Friday but when I saw the premarket trading so low I took my 8.5% profit and thought I did well. I missed out on an extra 22%. Amazing. I was in a 3x bear fund (FAZ) and it was up 30% today! That's ok, I'll get back in as soon as the market moves up a little.

Keep an eye on 768 as the magic point. If things feel right I'll put all of my retirement in around that point.

P.S. - The banks earnings that everyone was so excited about were all smoke and mirrors and in a quarter or two it's going to be shown just how horrible shape they're in.

By the way, after we hit 768 we'll resume the rally upwards and get to the 1000 level (remember 10,000 on the Dow is very possible and likely).