My market timing is suggesting higher prices are coming, but not until a short term correction occurs. The VIX is at extreme complacent levels as there is no fear in this market at all. Next step is mega -super complacency. Combine that with a few other factors and we could easily have a 2-3 day correction that could give us a chance to pick up some stocks that may have zipped higher too fast. Just remember that the correction isn’t going to nicely move down, just so we can all buy stocks in time for a move higher.

It will probably be uglier than we can imagine. I’m still long a few names in the event we go higher, but I fully expect to be stopped out very soon.

A few names that look hit all time highs today and will look attractive on a pullback are EW and RBC.

Related Posts:

Vix in a Healthy Pullback

The Rally That Won’t Die

4 Responses to “Not One To Call a Top”

  1. David A Says:

    A 2 to 3 day correction that takes us down to were on the S&P?, Aprox

  2. jeff pierce Says:

    1225, give or take 5

  3. George Says:

    Do you expect metals to fall along w. the S&P?

  4. jeff pierce Says:

    It’s not a popular opinion but I do. Nothing major, but a pullback nontheless.

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