Market poised for major pullback?

Anyone here do TA on the market? Some charts a friend has been looking
at show a pullback for the market is due. I kind of think too that
maybe we are overbought and profit taking will occur once people see
their funds have gone up 10% the past 6 weeks. I am getting tired of
the market going up and then seeing my paper profit disappear once all
the selling happens. Suggestions on laddering sales of funds at this
point?

Re: Market poised for major pullback?

wrote:
> Anyone here do TA on the market? Some charts a friend has been looking
> at show a pullback for the market is due. I kind of think too that

How? What is he looking at? Long term? Short term?

> maybe we are overbought and profit taking will occur once people see
> their funds have gone up 10% the past 6 weeks. I am getting tired of

Almost all of this is seasonal. Money pours into the market near the
end of the year.

Actually, if you were to just stay in the market for 6months of the year
you'd do better than staying in the full 12months. Pick up Sy Harding's
book on profiting in bear/bull markets and you can look at the charts
yourself.

> the market going up and then seeing my paper profit disappear once all
> the selling happens. Suggestions on laddering sales of funds at this
> point?

I'm generally bearish on stocks but I don't see it breaking down for a
while.

- end of the year there is almost always a rally
- the advance/decline issues are very solid.
- rallies are on increasing volume
- bullish sentiment isn't excessively high

2006 is another matter altogeher. The yield curve will invert. I get the
feeling that the major indexes might bottom out even lower than they had
in the 3/2000 crash.

But I moved my ROTH back into the S&P500 at 1180 and will ride it out for
a while.

-Mike