How about this long term view of the Dow? Could this be the picture of an ongoing mega bull market despite two secular bears (one currently in force)? I am not trying to hand hold the bulls or instill confidence. Rather, I am just showing a chart that is devoid of all the daily alarms, sirens and frenetic calls to arms. Edit (1:06) Just bought some DIA calls out to January, when the pig was down around 200. Is this a reco? Come on, you know me by now. Edit (1:16) I also sold the GLD that was noted in the spec/investment portfolio in the NFTRH for a nice 8% to cash up and concentrate on the wildly over sold (vs. bullion) gold miners.Separately, I have asked Otto to work up a NOBS report on a junior gold company that I currently own. I will do the TA. It should be ready for this weekend's NFTRH.
Edit (2:12) I just realized that today the Dow hit the H&S top target noted in the first chart in this post from Monday. It is obviously better to have it out of the way than have the markets turn up with this still hanging over our heads.
Edit (10/9 @ 3:00) So much for that brainstorm. DIA calls stopped out with a 38% loss on a thankfully small position. For the time being I'll go back to my priority of accumulating the gold sector for investment. But at some point this pig will bottom. Unfortunately the big climax may still lay ahead.
