The Nasdaq will always give us the gears as it seems to walk to a different drummer at times. The potential Cycle degree wave 3 peak did not peak until early March. The recent pattern suggests another correction is in effect with a little 4th wave in Minuette degree just completing this morning. The markets could implode as well as it seems to be a Gold/Oil/ USD/stock connection running. In the 2008 crash everthing joined in the bearish decline, so there is nothing to stop it from happening again this year.
Buying on the dips will just get you killed, as the majority have no clue in how big this impending bear market will get. All price support to 6200 must get retraced and that is just to get us warmed up for the bigger bearish phase that still needs to follow. The majority are all in the bullish trap as they practice, “no sell high” strategy. Only a very small percentage of contrarians have this skill and experience of buying low and they need lots of time to put their capital to work. Until insiders show a clear track record of them buying their own shares back, this market will go down sooner than it shoots to new record highs again. When companies practice a, “buy back” program then this is usally a bad sign as it throws away cash at extreme tops, and it’s a desperate attempt to keep their stock prices high. Buying their own shares back with company profits is also a clear sign they know not what to do with their company cash pile. The same happens when they start paying dividends, paying dividends is also a sure sign that the company has no ideas or projects, and when the do pay dividends that company also starts to decline. Only the rich can play this game, as they are the only ones that can afford these prices in the first place. Any average Joe or Jane will get wipped out if they follow the herd and try and beat the markets.
If you play the same game as the majority do, then our end results will also be what the majority get. The last greatest fool will be left holding paper that is falling in price, with many buyers nowhere near to be seen. Only the emotional traders are left playing this game, and they are the first to bail out when they start to see red in their invesment accounts.