So we didn’t plunge today, as predicted the roaming bands of Twitter ghouls last night. And, we are not soaring, despite the robust open. We are just sort of “meh’ing” our way through the session. If I might suggest, this is a perfect market to be in cash.
Nevertheless, I do have a very large amount of cash to put to work, perhaps a bit too much. I will be buying one stock today, in decent size, with the great hopes of seeing it sprint higher shortly thereafter. As told before, I do not have an appetite for anything but gold. In the words of Barack Obama, let me be clear: I’ve taken the gold from the hands of Senator Gint and called it my own.
In short, I am not liking the market here, nor am I hating it. This is not the tape for me, so I will wait around for things to get better.
If you enjoy the content at iBankCoin, please follow us on Twitter
Just pure luck, first me thinks
The Italy issue is a non-issue, and the debt ceiling issue will be “fixed” when they agree to simply raise the debt ceiling with no spending cuts and no new taxes. Buy gold and silver and sit on it.
My friend’s trading system has a short-term low coming up within the hour, with the market going up into tomorrow at least. His system is right a fair amount but of course not always.
If your friend is interested… I have developed a short term coin flipping system. Heads we go higher/ Tails we go lower.
Or was that the other way around? Damn?! I always forget.
Yes, I have seen that system before. It is correct more often than the majority of trading systems out there. So you should try to sell it, Bullish, LOL.
What do you think about GME, TITN, LZB, LLL or SMTC ?
We are right on the neckline of a H and S top on the S and P right now. Short term chart, just looking at this week so far only. But then it seems that that pattern fails more often than it works lately.