Note: Market here refers to S&P 500.
Came across this David Tice interview, courtesy Pragcap.
While the interview was standard David Tice fare, there was this quote from Bob Janjuah which caught my ears. (I’ve referred to his crash warnings earlier here. For an even better compendium, check out this FT Alphaville post.).
IF market closes above 1022 for 4 days in a row, it is time to hit the exits.Note: Here "exit" refers to exiting from his short positions via stop loss. Basically, he's looking for a momentary spike to 1025-1050. If we can sustain above 1022 for 4 days, then it's time to exit short positions as another asset bubble is coming our way...
Hmm..I guess we’ll find out soon enough! (Tuesday was the second day the markets did exactly that).
Check out the interview below:
PS: As I type this, the Asian markets are selling off. If the sell off should extend to the US markets and S&P 500 closes below 1022, then this count shall be reset to zero..