Reversions happen much faster, too. There is no "ride" on the way up. imho...It's like a bear market reversal. Still, I am somewhat optimistic for the election season. FED is holding back on Christmas presents.
Wondering how many people opened positions today while stocks are up 5-15% in the last 3 to 4 trading days....I only sell on up days, sold off all TNA today and over 50% of my XIV position..... DOW LOW JULY 7th was 17465 Todays close 17977 up 500 points 5 days, most of those gains though happened since THURSDAY afternoon 17548 close on Thursday afternoon July 9th monday afternoon dow closes at 17,977 429 dow points in 2 days 17,977.68 217.27(1.22%) 4:03PM Prices Date Open High Low Close Volume Adj Close* Jul 10, 2015 17,561.12 17,797.49 17,561.12 17,760.41 85,800,000 17,760.41 Jul 9, 2015 17,530.38 17,764.85 17,530.38 17,548.62 100,520,000 17,548.62 Jul 8, 2015 17,759.01 17,759.01 17,496.22 17,515.42 69,830,000 17,515.42 Jul 7, 2015 17,684.92 17,793.45 17,465.68 17,776.91 105,840,000 17,776.91
So what do we see here in this 120 minute chart. Just looking at this chart, I would say we are in a down trend, and this is a lower high. That's what it looks like right now.
We are in a downtrend if it fails to make a new high past 2120. With earnings in front of us, do you think that won't happen?
That is why selling when bear market or a correction starts is not easy. You always have a hope that next day it will go higher but after 5 months when look at the chart, you would ask yourself how come I did not see that correction coming?
Two things are the easiest things to do in the world: 1- Manipulate the market by the governments 2- Digging a tunnel in a prison cell without anyone noticing that !