You weren't watching earlier this year...like Feb. or March? It blasted straight down past the 20-day MA without a retest for nearly a month.
If this is is a correction then by definition it has to be over soon. A correction is 10% and so far the spooz is down 8% form peak.
Technically this looks a lot like many other 6-12% corrections. Go back and look at some charts. Whether it bounces back like other times remains to be seen, but it looks very standard...almost indentical to the drop in July 1996. When has there not been a lot of uncertainty in the markets? LOL. I guess no one should've bought stocks after the S&L crisis or LTCM or 9/11 either...there was tons of uncertainty back then, too, and no one knew what would happen next. But markets recovered and life went on.
Keep making excuses for your horrible advise. Along with avoiding questions you can't answer. Waiting for your next dumbass response? Hmm... what will it be? My Index? Its just a correction? Let alone lets get long atleast 5% early. This is what separates us traders from no nut newbees like you that try to pick bottoms based on rubix cube scenarios. Let alone your not a trader your just a Blah Blah agent. If you were a trader your as would be margin call city! P.S. Waiting for a weak resonse as always or a selection of a one line to attack. Do yourself a favor and lay off the crack pipe!
I'll say it again... give me a track record longer than 1.5 months and then we can judge your effective leadership and superior intellectual stock machinations.
I'm glad I don't read this crap everyday. Stcktrder is a LOSER. Each statement never ceases to amaze me - dumber than the next. Like clockwork this trader (been in the game thru the late-90's and early 2000's) has been seeing the signs since late May - early June. Or for that matter Feb-Mar correction lasting a month? Come on now. Those with less years just don't know. I love it how the market separates the men from the boys. My funds went to Caution on 24-Jul-2007 and Stop Losses 26-Jul-2007 after much pain and waiting. The signs were easy to see...then to hear the likes of Stcktipper(lol) Corrections by (loosely) definition are 10% PLUS. What gives you the right to say it is over. Nothing valid from what you say. But you are entitled to your opinion. Go ahead...catch a falling knife. It's FUN!!!! Paysense
Paysense it seems you're laking some common sense as well as braincells. Your 'funds'? Wow you're such a high roller. I'll buy this dip and make money while you can sit on the sideline with your caution signals.
It's a "Stop Loss" signal, idiot. That means make NO NEW BUYS until the market confirms it is back into an uptrend or "new rally". Of course, if you held past the previous Thursday - YOU HAVE NO CHOICE braniac. You are sunk holding the bag. So like I said Go Ahead, catch a falling knife...it's fun!! With most indexes quickly moving to or through their 200-day moving averages, you better be loading up on Dow stocks. <b>But that is not trading</b> - it's more like adding to your 401k or retirement account. Ps
So you think the market is going lower and you haven't sold anything? Also, by the time the market confirms that is is starting a new rally the opportunity to make the most gains are gone.