Make Way Titanic ~ The Risk Averse Alert

Wednesday, April 18, 2012

Make Way Titanic

Not a bad day of trading, really, considering that on both the NYSE and NASDAQ more than two issues declined for every one that advanced. Still, the air pocket the market hit at the open today gave testament to eyes fixed on the exits, this particularly following yesterday's strong lift. In fact, how about we consider the possibility the market already has topped and from now until the suicide rate in New York City matches that in Athens, Greece, it is straight down for stocks (except maybe AAPL, which could see $700s before all is said and done, but not likely $1000).


Definitely not an outside possibility. With so many technical measures starkly challenging any thought of the market's continued levitation, a timely centennial commemoration of Titanic's sinking rather reasonably might be the market's more likely fate.

One thing to keep an eye on over the final eight trading days of April is the possibility of a so-called "outside month" developing. This would be a fitting price-negative to go along with the many technical negatives making for present possibility that, James Cameron's wealth soon might meet its benefactor at the bottom of the Atlantic.

Fast Money
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