I believe this correction is a good thing, takes a lot of excesses out of the markets. However I just don't see the fundamentals in place to create a bear market, not yet anyway. Earnings will prove my point. Is it wise to take profits after such a long run, absolutely.
Just make sure you have 1 billion in startup capital, to ride out those initial losses while tweaking the system.
the other side to that is that stocks are forward looking.. maybe we have reached "peak good news".. every thing is priced in and stocks could sell off even beating Q1 earnings with the expectation that it's all downhill from here. lower stocks will just begin a negative feedback loop. It's not looking good. regardless.. I think the February lows are worth a buy for a bounce at least.. I think it opens lower Monday but finds a bid. that 5% slide in 2 days since the post FOMC was EPIC.. could very well keep it's place in history
Dow futures went up almost 100 points and then fell over 100 points since they opened. Nice swings....
Anyone shorting? NQ is up 100 points, ES Up 35 points since last closing should level off maybe 10 points on ES before blasting another 25-30 points during regular hours
Im adding more to my shorts during this rally. Expect the markets to go lower in the coming years, this is not any day trades, might even go back to 2700 this week.