Discussion in 'Journals' started by Visaria, Jun 5, 2013.
I would say the US will be in recession or maybe entering one by the end of the year.
Bought some Apple shares at $495 last week. Thought i would follow in the steps of Icahn
Maintain this view. I read Goldman said that much of the GDP growth this year was due to housing. In fact, if you stripped out those housing gains, GDP would be negative. Last week, the housing report came in far below expectations.
I think we can forget about any tapering of QE this year.
Markets gapped opened on this news on the weekend.
Lost 1.5% of the funds i manage on the gaps. Was short TF and long the dollar. Killed on everything.
Stupid thing was i noticed that the price action was so strongly bullish in the final hour or so on Friday. Was a big warning sign.
Always be long the strongest when long and short the weakest when short.
The Nasdaq is the strongest US index atm.
A mate emailed me this :
Day traders work FOR the market.
Non day traders let the market work for THEM.
Opinion time! I reckon the SP500 could hit 1900,maybe even 2000 by the end of the year. Not that far off, another 15% is not impossible when Bernanke is printing $85b a month, might even increase it!!!
It would be good and healthy to have a correction in the stock market. Say 5% or so, would remove some froth. I think we will correct starting now. Not a bear market by any means, you can't have a bear market when the fed is printing so much money every month, ceteris paribus. But a correction is quite normal. Would be perfect to buy in for the longer term.
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