I Do Not Like The Selling After All These Nice Charts Have Set Up

Where are the mutual funds that are hoarding cash? If these guys do not step in and start buying stocks and we continue to have to rely on the shorts to cover higher to produce a rally, my faith in this rally is going to start to fall real fast.

I refuse to get as bearish as the crowd and I have been expecting a pullback but seriously if volume continues this below average pace, I just don’t see how in the heck this can turn into a long-lasting bull market.

So if you want to be a raging bull, go ahead. I still remain cautious but would love to get EXTREMELY long here as the charts are starting to round out. However, selling here after these nice charts started showing up would be very bad. Maybe this is why my short scans have been active, like I have been talking about on the ‘Silver Shorts’ area.

Hopefully, the elephants will return soon, or else those mice that are keeping them away will start to scare me soon.

Comments

5 Comments »

Comment by Sam

2008-05-07 17:25:05

Hey Josh,

I have been reading a lot of your articles on Real Money and I have noticed that you havent been posting there. Are you still with them?? It would be great if you can restart posting there if possible..

Comment by MarketSpeculator

2008-05-07 18:48:24

Unfortunately RM wanted to cut ties with Josh. I suggest sending an email complaining that he is no longer writing for them.

Comment by Dave Hyde

2008-05-08 11:29:59

That is a shame. I now feel a lot better about cutting my own ties with RM two months ago. At least Josh was there long enough to hook quite a few of us who were losing money following Cramer.

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Comment by Joshua Hayes

2008-05-09 02:19:28

manning went from 4 a week to 1

wyckoff went from 3 to 2 a week

olienesis fired

me fired

arms from 4 a week to 2 a week

Hughes and Maragioglio are now RM TA from thestreet.com TA

Schiller is 1 a week…no change

schumacher still does 2 a week

farley, fitz, and helene are the site tech

bottom line…i gave them too much work to do and instead of giving me one a week….they said to go separate ways. thanks but no thanks, basically.

i am going to try to write for seeking alpha but i am not too excited about this anymore. kind of a real pain in the ass. they want to control you. i had no creative freedom and everytime i asked for mistakes to be fixed i was basically told NO!!!! ????? how is a business run like that?

I guess the action in TSCM’s stock price tells the whole story. Bitter? HELL YA!!!! Cramer’s contract SCREWED a LOT of people.

Comment by gary

2008-05-09 11:55:14

Josh, It appears that a few people are asking about you todayon Rev sharks Blog.

BTW I enjoy your market commentary. I have alot to learn.