CHICAGO, Sept. 7, 2011 /PRNewswire/ -- Zacks highlights commentary from People and Picks Trader "BearMo".
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Long is Wrong: Will September Be the Month of the 1,000-Point Drop?
Would it surprise you? It won't surprise me.
This bear market rolls into its fourth month since the highs hit in early May.
It's failed at least three times in attempts to hit a newer high.
We've had a number of up and down days with big drops this month. Is the 1,000 point drop going to happen with the next big 'bad news' or 'bad disappointment' day?
What catalyst could turn the markets upward? I see three things that could cause a turn in market direction, an upward trend in Jobs, an upward trend in Housing, and/or a new round of quantitative easing by the FED (although even that may not help). I don't see any upwards trends in Jobs or Housing.
There's still opportunity to make money in this market but you need to go to the 'dark side'.
My advice. Stay protected (i.e. put options, inverse ETF's) and listen to the market and disregard personal bias, do not be in denial (keep your head out of the sand).
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