Charts as of few mins ago...
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Printable View
Charts as of few mins ago...
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Well...today's drop this afternoon was unexpected. I don't think it will last. So, today's buyers get a further discount, but price is going up as the bottom feeders buy at end of day. Still S fund will have a drop. No telling what happens tomorrow but I tend to think the variant will not cause much havoc if the politicians don't get involved. I saw number that 16 of 19 persons (in S Africa?) were non-symptomatic and other report said symptoms were mild. Hoping this is a knee-jerk reaction. Will see...
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I agree totally with your Pic. LOL I never would have thought I would see the S fund drop into the single digit return this year (as of today) mostly during the holiday period. It been a crappy season and I bought just shy of the high. Still have my sticky pants on though as I'm riding it down. To much of a loss to bail now but I still have time to make it up. Worst 2 weeks I have ever been caught up in. Dang it. Seems I am going back to where I started the year at where I was negative for the first few months. Someone somewhere really wants me to finish with a bad year.
Best of luck hopefully you bought the bottom.
Hi Quabit, I feel for you. Losses are tough to take. Word of caution--- set your loss limit and execute an exit if you hit it.
Riding it down seems okay until fear sets in. Some have taken that view and dug a deep hole that is very difficult to come back from, and we have had some lose in excess of 10-20% over multiple transactions. Others say as long as you do not sell, the loss is not booked. This is true if you have the guts to see it drop a lot, do not exit and if we do not go into hard downturn and market recovers fairly quick.
I know myself well enough to know I am awful at dropping more than a few percent. So, my hands down stop/exit is at a loss of about 3% on a trade, and under no circumstance will I stay in with a TSP drop below 0% for the year without immediately exiting (which is more likely at start of year when gains have not yet accumulated).
Let's hope the market turns around. Unfortunately, futures are down right now. Hopefully that will work itself out overnight.
So, I will watch what happens tomorrow and if it continues down, I would likely be forced to exit Friday if there is no green by Friday morning. Yep, I will put my tail between my legs and come to terms with learning that my entry was just not good. I do tend to think the variant is not going to be a big factor, but I do believe this drop is primarily due to concerns of continuing non-transitory inflation including policy decisions that are adding to this. Will see how it goes tomorrow.
Best wishes to you and everyone! :smile:
Futures turning positive. :smile: Hoping it holds. Here are COB charts. Best wishes to everyone!
These charts are now showing 100 and 200 day SMA.
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:smile:
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So true. Problem is as fast as it dropped since I bought it would have been a one or two day trade and with the holiday season upon us I really thought seasonality would play out. It's just one of those things right now. Dropping close to multiple % almost everyday sucks and you kinda get trapped. At lease this mornings open is positive so I will get to dance the jig for now :banana:even though I know it could end up like yesterday:(. LOL
Yes...definitely understand Quabit. Once you are caught in downward spiral, it is very hard to exit and solidify the loss, especially with no recourse to jump back in.
Today does look better. At this point, price has gained back a little more than 50% of yesterday's loss. Wish that thrust up was a little stronger like 70-80%... but it is enough for me to risk staying on to see what happens tomorrow. Job numbers tomorrow and some economic numbers that can move the market. Next, thinking if Fed meeting two weeks from now and impending debt ceiling that will likely be tied to not just a budget but to new "infrastructure" bill with spending. It is going to get interesting....
Here are charts...
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S fund Looking much better. :smile:
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Yeah, the 200-day EMA is concerning. We haven't seen this index price below its 200-day EMA since April 2020. Despite today's gains it's not comforting that the 200-day EMA may have acted as resistance to top today's highs off.
https://stockcharts.com/c-sc/sc?s=%2...=1638480203352
https://stockcharts.com/c-sc/sc?s=%2...=1638480203352