I did warn you about the retest the lowFAGS. I don’t quite understand what the fuck their problem is — but they’re malicious when it comes to market sell offs and always need the lows to be retested.
Here we are now, retesting like good little monkeys.
According to my handy stock market almanac, when the lows are retested, especially on a morning gap down, apathy and misery circumvent the market, which often leads to bottoms. The issue I have with buying now is the specter of a weak close. There are several ways this can play out.
The best case scenario us morning bottom, followed by a furious face ripping rally.
Worst case is tepid rally, followed by a full face collapse at 3pm.
Either way, you have no business buying in size here. The technicals are weak. If you insist on buying, do so in moderation and try to avoid getting raped in momentum stocks — sort of like me in these fucking shippers this morning.
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gotta love Andrew Left back-stabbing his fellow shorties with savoir faire to spare
https://citronresearch.com/wp-content/uploads/2018/10/Citron-reverses-opinion-on-Tesla-too-compelling-to-ignore.pdf
I’d say we are still a ways away from a full face collapse and thus buyable bottom. I follow the pulse of the average investor moron–they are NOT at all worried about this decline. That worries me. We may bounce here and there, but I think we will see a catastrophic decline in the coming weeks unless and until the Fed signals it is backing off or Chinese trade tensions ease. Fan favorites like AAPL and MSFT have yet to be taken out to the woodshed. Need to see that happen before we can start to think bottom.
“Once we bounce and rally hard, you’ll be tempted to believe the worst is behind us and that we’ll rally right back to the highs. This is the sort of thinking that gets people killed.”
– Dr Jekyl, Thu, Oct 11, 2018 9:41am EST
“Cash levels have been reduced to just 5%. Ask me if I care — because I really don’t.”
– Mr Hyde, Tue Oct 16, 2018 12:54pm EST
“I did warn you about the retest the lowFAGS.”
– Same Guy, Tue Oct 23, 2018 9:54am EST
Not sure if it is the Alzheimers setting…
Here’s my prediction for October:
We rip higher*
*subject to revision