Goodbye Good Friend - the Bull Market Leaves - Voice of the People
August 02 2011 - 1:15PM
Zacks
Zacks highlights commentary from People and Picks Member
«MightyMo».
For more Voice of the People, visit http://at.zacks.com/?id=7872
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Goodbye Good Friend - the Bull Market Leaves
In my opinion the bull market is over and the bear market is
beginning. This doesn't mean stock prices will collapse
immediately.
Bear markets are a different type of beast. They have sideways
actions, big bounces and bigger sells. The bear market of the
1970's lasted almost the entire decade. It was a great time for
option premiums. The bear of 2000 to 2003 and 2007 to early
2009 were pretty severe with losses of more than 50%.
The chance of this bear market seeing such collapses is probably as
great as any previous ones. Just remember that bear markets take
months to unfold and normally collapse near the end. In-between
there are lots of opportunities to make profits. There is no need
to fear a bear market, but it is worthwhile implementing different
strategies and remaining conscious of the fact that the bull market
is probably ending.
My strategy, part of it, will be purchasing index puts on
any bounce higher. The future DiviMo and BearMo postings and
commentary will relate to my strategy during the bear market
period. Meanwhile for my positions that have covered calls, I
will be taking opportunities in any rise in stock values to sell
calls in the money as I am sure that many of the covered calls once
sold in the money, will eventually end up out of the money as
stocks pull lower.
The bull market - Mar 2009 to April 2011 - was fun,
entertaining, profitable and educational. As stated in an earlier
blog, this will be MightyMo's last blog....that is the plan at
least until there is a direction turn in the market or our
strategy changes.
The most recent picks by «MightyMo» are:
A buy rating on Complete Production Services
(CPX),
a buy rating on Ryder (R) and
a buy rating on The Talbots (TLB).
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