I know the market looks terrible and futures are sharply lower this morning; but isn’t this a little maudlin? Are we so predictable that we’d crash September again only to recover in October and then sail into 2025?
Boring.
This is an election year and although Harris is talking about taxing unrealized gains; that’s never going to happen. The way I see it, $NVDA just posted great numbers. People panicked about OPEC increasing supply but that’s going to get delayed, according to today’s report. We have some mean reversion signals flagging inside Stocklabs and frankly I see no reason to all of a sudden believe that it’s over.
It’s been over for some time now yet market continue to make new highs. Don’t get me wrong: I’m receptive to a bear raid and might even end up shorting today. But if we’re talking beginning of a long protracted move lower, I’d have to argue against it, even though my heart and soul would really prefer it.
One last thing: I’m malleable to the market winds and I say that not to couch my current feeeeelings but to state a reality about me.
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