Folks,
I have to take off for a day or so due to my job demands. I should resume posting again sometime this week. Before I go, couple of thoughts:
From my perch and based on my indicators, I expect the market to show another reversal by the end of the week. If we don’t head down tomorrow, then I don’t see us going down till the end of the week. Obviously I am not taking a stance one way or other. This is exactly why I am largely in cash and on sidelines with selected longs and shorts described in last post. Tuesday and Wednesday’s market action could give some inking of which way the big boys are leaning towards when they return back. As mentioned before, they might be closely watching any upcoming M&A action and Earning alerts announcements to decide their direction.
By the way, Schaeffers Research has some interesting statistics. In the last 20 years, the average return in September has been negative. But get this. In the last 5 years, the average return has been positive. Four out of last Five Septembers were positive. This is not my point of view yet. But for what it’s worth, I thought of sharing the stats with you.
Be well and I be seeing you soon.
- StocksRider
Cool, have fun sir.