I got a call in the middle of the workday from my best friend. That’s pretty unusual because he’s working a time clock type job and they watch him like a hawk. he says he’s calling because he wants to know why the market is crashing! Just to be sure I knew what the hell I was talking about I pull up a chart on the S&P 500. I do the math real fast from the top of the mountain earlier in January. And I tell him we are down 10% that’s not a crash. he then more or less tells me that this thing is going a lot lower it’s got to go a lot lower right? So I challenge that and say give me three good reasons why you are correct. And he basically says because it has to? where I on the other hand can talk from a perspective of information. I keep telling him that as long as the federal reserve is propping up the system we keep going higher. anyway, I’m sure all of us have these interesting discussions with people that really don’t know what the hell they’re talking about when it comes to the market and investments.
I'm not sure anyone knows what the market is doing. I certainly don't. I went to cash on Friday, was quite happy with myself this morning and now I'm not so sure. I won't do anything until the market shows me a direction.
Lul if we are predicting for fun I say the Fed will blink and second half of the week is pure bullish because of Gamma and put to call ratio
I had it all figured out today. At Noon and down 1100 on the Dow I was convinced we were either going down 3,000 today or we'd be positive - or perhaps somewhere in between. I got this.
Trading wise, I don't have a clue whether market will rise or fall when I have long term commodities positions on, so long as System hedges when it suppose to based on charting, limited risk. My opinions is always flawed, but am decent at chart reading.
Wanted you to know, I finally closed my MSTR position, a 60% hair cut, which is most likely the reason MSTR rebounded today.
You too? I was sure they had a sign at the exchange that my broker controlled so he could let everyone know when I exited a position so that the smart money would know it was time to get in. I think they gave up on me when I started cutting losses quickly.
I have a friend who says it is crashing any time the market is down a couple of days. Hes been saying it for over a year. I always say, "Is it down over 10%?" He says no and then list off industries like cruise lines and flying to which I point out the obvious as well as them not being "the market." My retirement account I still keep invested at all times, even if it crashed, because I still have decades before my actual retirement age and timing the market is an exercise in futility. I dont want to play chicken with my retirement account. My daytrading account is obviously in and out daily as I trade index futures. I also have some dry powder in cash I am waiting on in order to time the market, as I am more willing to play chicken for a better price. Looking for a nice discounted entry into something like Apple and still feel this market is way too inflated.