Maybe, but I'm not interested in trading reactions, the primary trend is where the money is made. “Nobody can catch all the fluctuations.” - Jesse Livermore
Carter worth says we're in a bear market... Reading a lot more articles now saying markets are headed for a deeper correction.... Next support 1820...markets break that and an even bigger drop is coming. http://www.cnbc.com/2015/09/29/we-are-in-a-bear-market-carter-worth.html
Definitely don't day trade it lol it is way too slow and most have fees for exiting and entering the funds more than once in a certain time period, but yes more of a multi-month view. I exited almost all stock holding back in July, and have been buying back in now on dips.
It definitely has the same vibe as the market peaks back in 00 and 07/08...namely the squeezes are swift, illiquid and as soon as it starts to retrace, the moves fall apart and roll over...it really can't be traded with the same mindset as the bull phases, it has a completely different personality.
1750 seems reasonable...and I do believe we re-test the 2007 highs back in the 1550 area (and who knows from there)...as a rule I won't short into extreme weakness and so my "inventory" of puts is lower than I would like, but the markets always make it that much harder to get short where we would "like to"...i.e. the FOMC announcement when options spreads went bonkers and we briefly touched the major resistance levels (Russell/IWM) and probably SPX/SPY...I think the Nasdaq will have to play catch up at some point, but so far it seems that all the high beta folks have been hanging around in that area hoping that the Fed says something to rally the hell out of those stocks again..finally saw some beginning capitulation yesterday in the momo names that are really prime for a large sell-off.
drip, drip, drip lower...it's interesting that volatility has really come in as the indicies are re-testing last month's lows...