Oh GOD, I am dying here.
WHACK!!!
It seems as though the markets tanked right after the mid terms,,,hmmmmm
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Talk about a butt kicking.
May the force be with us.
ok- You're not going to believe this- but I just pulled the trigger and made the trade BACK into stocks.
Now- I THINK that it cleared before the noon deadline. My computer clock said 12:00 when I clicked the final button. But I won't know for sure until tonight whether or not I made it in time.
These charts are all crazy, and for some strange reason, I feel a one or two day reversal coming on, so I 'm going to try and catch a wave.
Will decide tomorrow if that was an ok move, or a bad move.
What i DO know- is that i've been OUT the last week or more, with a 5% drop, and so I'm in better shape now than if I had stayed in the whole time.
Wish me luck. Thinking this is going to be a quick and and out move for a couple of days.
Dang- Just checked, and NO, it wasn't before the deadline. It's telling me now I have until noon tomorrow to cancel the trade.
So I'm going to do that, cancel it, and look at it with fresh eyes tomorrow. I really thought I was going to get a one-day 1.5% or greater swing up tomorrow- but I was 30 seconds too late.
I almost jumped in too...but things are too cloudy still for me to see a direction. I like your idea about the 5% drop and a buy in lower but I keep thinking we didn't actually create a solid floor for a climb. If I'm right then any upswing will be short lived and we have gaps to fill to the downside in the near future.
I'm not saying you can't make money this week by actively trading. I am just being extra conservative since I only have one buy in move left and am hoping that we have a chance for greater gains later this month. Big IFS but with China/Wall-Shutdown/Brexit all having such huge economic influences, IF one of these breaks solidly positive there should, hopefully, be at least 3-5% profit to be made.... if you can time it right.
Now...this is nuts.
Once again the roller coaster is headed downward today. Amazing.
The other day I was trying to catch the knife for a one-day in-and-out uptick because the market looked oversold to me.
Well, I missed the day (only because I was a minute late in trying to catch it, and ended up cancelling the trade because I missed the 12 noon cutoff by 30 seconds).
But I don't want to try anything like that again right now.
this day tells me that there is a sharp edge trying to catch a falling knife.
I will sit back a little more, digest who is going in and who is going out, and look for another opportunity.
In the meantime, I'm just going to sit in "G" some more, and sip some coffee, and watch.
Have a great day.
P.S.- I'm watching the S Fund's index today ($EMW) on stockcharts.com
At this very minute, the $EMW is trading at 1274.57
The previous cycle's low was 1273.97
If the $EMW HOLDS at this 1273.97 level, then that will be a good sign that we've got wider support level here- and maybe a place to jump back in.
If the 1273.97 does not hold, and it breaks down further, I don't know yet where the next level of support might be, and it could be bad for a few days.
We'll just have to wait and see what happens today.
ok- The $EMW went to 1272.43 before bouncing back. That is a new cyclic low.
Buyers coming back in now. Let's see if it holds for the day.
But ^DJT hit 9540...a yearly low. Last time it was in this range would have been August/September of 17. I hope we get a bounce from here but thinking this looks worse and worse.
The $EMW hit 1264 before bouncing off. That tells me we have NOT likely to have seen the low yet.
I'm sitting on the sidelines until further notice.
Drinking some coffee, being glad I'm out.
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