I treated the down last night (aussie time) as a buy-dip opportunity. There may be some more down until end of the week but next week I think the market will recover the lost. Do you guys share the view?
Well, I am not going to vote because a) it really doesn't matter what I think, and b) I cannot predict the future no-way no-how. However, if you are looking for some positive response regarding your position, I will say this... Today's low was stopped right at the bottom of the last longish daily bar, that being April 3rd. So, we had some consolidation since then and today a sell on Mr. B and FOMC news, and an afternoon recovery. So, to sum up and assuming you got in close to the bottom, I think the trade has some promise. I certainly would not stay around should it come back to my entry point, however. Obviously looking to a new high above the last few days range. Assuming it makes that, probably looking at something close to the 829.50 shoulder on that long down bar as the next stop.
If you are in that line of thinking why not wait for the down to get deeper over the next day or so and enter for cheaper next week! Why carry a loss to perhaps recover and even if your right and do recover why enter into a position you feel will have you creating a loss to carry?
I got problem with timing the market, when to buy and when to sell. I often only can catch 50-80% of the move. That's why I develop my strategy of building positions part by part and the same way to close positions. So if tonight market tumbles/raises >0.2% again (I trade indices) I will load up some more
Good to see that you cull in,i was going to mention the timing issue and that you might consider going in gradual but got sidetracked by the kids. Good trading
I don't think we're looking at a buy-dip opportunity in US equities. Not yet, anyway. I think we might pull back for a week or so, especially if Friday's PPI number spooks the market. However, over the last month or even the last 9 months, the market hasn't given a rat's ass about higher rates, a slowing economy, higher oil, foreign policy problems, higher inflation...you name it, the market hasn't cared about anything aside from putting investable cash to work. Whether that's the theme for the next 10 years or it whether it ends tomorrow I have no idea.