What direction will the market take?

Last week I posted an observation for the potential of megaphone patterns forming on the Dow, NAS, SP500. I was reading an article below and it appears another has taken notice too.

The S&P 500 is forming a bearish "megaphone pattern" with market peaks from 2000 and 2007 presenting price resistance, according to Harry Dent, founder of HS Dent, a stock market and economic research firm in Tampa, Fla.
http://news.investors.com/investing-...=yahoocp,yahoo


I'm curious where you stand. Do you think we are going to continue to set record highs, are due for a correction, or trade sideways?

Morning Spoons... I am all over the place with this question. The market is sure acting squirrely and the volume tells me to expect a correction. The other side tells me that nothing has changed. The fed's policy is about cheap cheap money. If this continues like it is, where else are investors going earn a return on their money... the answer is securities, more specifically dividends. If we are gonna go higher, i would really like to see a correction first. This probably doesn't answer your question but it helped me think out loud. Thanks for posting this over the weekend Spoons!

I'm been very busy lately and tough to post during prime time hours.

I often wondered why no one started a weekend thread. I do a lot of reading over the weekend and would love to share some links. Maybe we can post some here. Thanks man!

Any thoughts on Facebook going forward. Thanks in advance.

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Originally Posted by midas360

I often wondered why no one started a weekend thread. I do a lot of reading over the weekend and would love to share some links. Maybe we can post some here. Thanks man!

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I know it is unlikely many folks will visit this thread over the weekend, but I have the following to say with regard to weekend threads, as follows.

I'm not one to necessarily boast about other sites, but one thing I liked about SWP (refugees from there know where I mean) was the practice of using the Friday thread as a place to remark through the weekend. Seemed to work fine over there; let's continue that practice over here and not be bothered with starting a weekend thread for typically low volume of posts.

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Originally Posted by salnguad

Any thoughts on Facebook going forward. Thanks in advance.

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My only thoughts are longterm. The way Zuck puts his longterm vision for the company before making shareholders happy is something I admire. I also like how they continually invest in the best talent they can buy. I like picking up shares under $25 and holding them long.

As far as the short-term goes I have no opinion.

Thanks for FB opinion. Much appreciated.