It could happen this morning. We have good earnings from INTC and a beat by JPM so there’s no reason not to take out our last major technical as we party just like it’s 1999 with MASSIVE gains behind us and the MSM projecting MASSIVE gains for the rest of this year too. As I said yesterday, we’re not going to complain (much) – we’re just going to go with the flow. Yesterday I put up a DIA play that returns 566% in 37 days if the Dow simply holds 11,000. Today we’ll look at a similar play on S&P 1,200.
After all, like the crazy guy on TV says, if the government is giving free money away – shouldn’t we be getting ours too. Only I’m not telling you you need to buy a book or do anything special – just join my Membership site AFTER you make your 566% – that’s a pretty good deal! Of course, keep in mind these are the bull plays and we are generally hedging for a possible correction so obey the sign on the left and play wisely! Consider that you can make 5% a month by risking just 1% of your portfolio on successful plays like this one – that’s 60% a year if all 12 months are positive, and the last 12 months have been so why not 12 more?
As I mentioned above, the S&P is up 80% from the March lows and is still 31% off the Oct, 2007 high of 1,576. As we switch off our brains and run with the bulls, we’re not going to worry about the low volume and those silly fundamentals – we’re just going to use 1,200 as a key support that lets us know when to get in and out of our bullish plays along with Dow 11,000, Nasdaq 2,500 (still waiting), NYSE 7,600 and Russell 700. This makes being bullish nice and brainless and a couple of high-percentage disaster hedges let us sleep at night without being worried about a Black Friday even wiping out our gains. The other key percentages are: