I've been looking for a long entry for a month but have not seen it. I have definitely lost my mojo. Seems that if we can hit ~6300 on the NQ, that would be a good decision point. That brings us to the Feb correction low. Mr. Frump's trade blustering has certainly put a monkey in this wrench! Har.
I was with my accountant today doing the ol' taxes and the accountant sang that same sad song...It is really hard timing the market. By my God, look at this range and in trying to pick the extreme! Huge potentials here! GAH, where to get in long...Or are we going into the bear's den and do we have much more downside potential? Fuggin' Trump you arseholer! Trade war? Why now!?!
Haha classic. In my heart I just cant believe, with what has been such strong economic data coming out, and seemingly likely to get better, this is the start of the next bear market. Just don't think earnings have peaked or are really close to peaking. But, I know, you always see that stuff after the fact, so I am wary. But I think we will look back and told ourselves we should have bought this dip so as not to get the hose as someone said. But whatever I say is wrong 99% of the time so this probably means a 50% drop is right around the corner haha.
This drop is nothing, when you step back. If we are transitioning from bull to bear this may take 18 months. Looking for an inverted yield curve then if history is any guide another year before we really roll over. Technically we are still in a bull market.
As I said a couple of weeks after that huge rally off the february 9th lows that the markets would revisit that low again...I believe next week the Dow dives under 23000, I think at that point you could start to add some longs....
I noticed that, seems everyone is thinking there is a relief rally come Monday morning, which I do put at about an 80% chance, I bought two long positions after hours but very small amount for that possible early morning relief rally. If it goes further down I'm going to wait until it drops below February 9th lows and add some more ...I'm still bearish I just think I definite relief rally is somewhere in there next week...