I know almost everyone is watching the Head and Shoulders breakdown, (even Jim Cramer ? lol) and most following that have an even lower target. Even though I believe alot in the chart pattern set up, I do not as much with the target "must be met".
Why 846? Because that is the 38% retirement of the entire move up, so even from a "bullish" argument, that also could be an expected and accepted "pullback". So to me that makes it actually to me fairly cconservative target as well. So if this "perhaps is" a pullback before a end of year rally higher. (which I do NOT think it is) then 846 can still be a likely destination in that scenario as well, so in my opinion it's my end of July target.
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Just for a list, with out targets or specifics, some stocks that I follow and look to enter short periodically here for the intermediate term FWIW:
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MAR, TIN, SBUX, GOOG, GRMN,
ISIL, GMCR, AEM, WFMI, MA,
BLK, DO, SPG, MS, GS, BCSI, BIDU
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(I prefer NOT to short anything within 1 week before earnings, and nothing over earnings)
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Jimbo Cramer, I am going to replay your reaction at 846 later this month, because I want to compare them. Because (from my experience), when you get REALLY CARRIED AWAY an over-animate, it is more likely a good time to short the market. A few years ago (when I didn't know any better) I remember watching your show and you said something that I actually thought was a pretty good mentality. Something to extent of "when there are more bulls than bears we go up. When there are all bulls and no bears, we stop going up. So you are calling the top Freudian slip, thanks. I knew that you inside probably do have a decent idea where things are going.
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