When Does the Bull Market’s Steep Rise Become a Blowoff?

[Note: I am running this item for a second straight day to emphasize the point. RA]  If the stock market’s wilding spree continues for just a few more days at its recent pitch, the rally is going to start looking like a blowoff on the daily and intraday charts. Rick’s Picks subscribers know something the bullish herd most likely does not, however, and that’s why we are able to watch the mania unfold without getting caught up in its mounting recklessness. Also, because we’ve held a very precise rally target in mind for quite some time, we’ve been able to stay comfortably on the right side of the Furies since late autumn. The target also promises to give us something to shoot at when we lay out shorts, as we so often do at swing tops. Will the next top prove to be something more than that? Or does Mr. Market perhaps have something more memorable in store to  bring the thundering herd back to its senses? Time will tell, but the wait may not be so long as some Wall Street denizens might imagine.

  • Brad February 23, 2017, 6:51 am

    Any new insights or thoughts on SNIPF? Just curious. It’s been tempting me for weeks now.
    Thanks

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    Don’t be tempted, because it’s about to fall to at least 6 cents. I haven’t seen a company do more things wrong on the financial side of their operations since Bernie Kornfeld ran Equity Funding. Did you see where they’ve applied to extend 6m+ warrants that should have been allowed to expire peacefully in March. The stock needs more dilution like Fukushima needs more typhoons. RA

  • John Jay February 22, 2017, 11:22 pm

    With every Central Bank on the planet having moved from ZIRP, to buying worthless MBS paper, to buying questionable Government paper, to buying Corporate Stocks and Bonds, hell, anything is possible!
    We are way off the map at this point, who knows how far the central Banks will go to avoid deflation, and who knows how long they can keep the markets levitated?
    They are all “Making it up as they go along!”
    From my past experience in watching market crashes, it always takes some time for it to all unravel, big drops followed by big counter trend rallies.
    But, anything is possible!