At 1081, it is no longer a good risk reward on the long side. We may trend a bit higher today, so I have just initiated a starter position short. There is resistance right above around 1083.
It's gonna be some time before it's time to buy stocks again. I have to rot with this shit now. Too cheap for me to sell, too broken for me to buy more and expect it to go up right away.
The mkt has completely changed. It's probably more profitable to short but it seems to late to do that, to early to buy.
I realize that today's move higher may be just a relif rally from a 7% move lower, BUT until the market makes another lower low on a 6 month chart s&P, (breaking 1036),
then this should be considered only a 7-10% pullback and will continue higher into spring.
As long as we move hard in one direction down or up I will be happy. It's sitting here in a range that's making the market extremely difficult to trade.
I'm looking to see "if" we close above 10238 this week. That signals the bull can run.
ReplyDeleteIf it can't even close above 10200, then we go lower.
It's gonna be some time before it's time to buy stocks again. I have to rot with this shit now. Too cheap for me to sell, too broken for me to buy more and expect it to go up right away.
ReplyDeleteThe mkt has completely changed. It's probably more profitable to short but it seems to late to do that, to early to buy.
Stocks are not too cheap to sell.
ReplyDeleteI realize that today's move higher may be just a relif rally from a 7% move lower, BUT until the market makes another lower low on a 6 month chart s&P, (breaking 1036),
ReplyDeletethen this should be considered only a 7-10% pullback and will continue higher into spring.
If the ground hog sees his shadow we go higher! hahaha
ReplyDeleteAs long as we move hard in one direction down or up I will be happy. It's sitting here in a range that's making the market extremely difficult to trade.
ReplyDelete