I don't want to pick on Gary Kaltbaum too much this week. He had some sort of "episode" on tuesday and was in the hospital for two days undergoing tests. The good news is that he's okay, and the tests were negative. He mentioned on the radio that he may have had a Transient Ischemic Attack (TIA) (mini-stroke) or severe migraines that caused his problems. Thoughts and prayers are with you, GK. But that being said, he mentioned on his show Thursday that he "was no longer bearish" as of Monday. So, of course I went to his Trading Markets column.
Monday 3/31 "Why am I worried?": I am just not seeing the signs that make up a new bull market. When a new bull market starts, you should start seeing great set-ups and strong breakouts. We are seeing none of this. ... Maybe the bottom is in...and maybe the market just needs time to repair itself. I have no bias. Just not feeling it!Thursday 4/3/ "The real reason stocks are diving": The market continues to hold the lows, and is slowly building off those lows in spite of more bad economic news. This is actually a good thing. I'm just taking things one day at a time... not trying to get too far ahead in my thoughts. This has been a brutally tough market and I think it remains a tough proposition even if we head higher. Based on the follow-through day on Tuesday, I have been investing quite a bit.
I'm a daily listener to GK's show on my walks and bike rides. I *think* his timing system is basically following IBD's trend calls.