This is the tedious part of dealing with Wall Street, them and their ridiculous traditions and habits and superstitions. Fine, we have to retest the lows. I accept that fact and will now prepare for that eventuality.
I cleared out of most of my SAAS plays and have raised cash to 70%. I did this because I want control over my positions and I do not want to be subjected to market swings, based on Saudi shenanigans or anything else for that matter. I am tempted to hide in cannabis or even gold and might take some positions today, if they continue to trend.
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Just sit and do nothing- maybe go for a stroll in leafy downtown Princeton.
It will be the anniversary of 10/19/87 soon and lows are traditionally made in October.
Wait until we are at an extreme oversold (about 10:30 AM Tues) when all have panicked.
low-retest FAG-lord
guns’n butter have been replaced by precious metals & dope-miners
IMO, it seems like the chickens are coming home to roost for the US economy. We may retest the lows and bounce for a time, but won’t mean a resumption of the bull market by any means. The rest of the globe is slowing and now it is the US’ turn as the stimulative effects of the Trump tax cuts are outweighed by rising rates, global growth slowdown and trade anxiety. We are already starting to see early earnings misses from industrial companies. The full effects of a slowdown will be realized starting in Q4 and earnings/growth rates across the board will start to come down. I’ll be raising cash into any significant strength.
So much for your NFLX futures
Thank you, iis.
The market never bottoms on a Friday. The reason is simple: if it crashes on a Friday, retail investors spend all weekend hearing about it on the news and thinking about it, without a 9-to-5 to distract them. Then they panic sell on Monday morning.
This is pretty much the same thing as I wrote last week about this time as well:
https://ibankcoin.com/flyblog/2018/10/11/apathy-settling-beware-another-leg-lower/#comment-554324
On the other hand, I am thinking that I should probably be in a more cash-heavy position like Fly has wisely chosen.