And everyone thought we were headed back up, this is a bear market, Today is a day you SHOULD BE BUYING... I did, bought more QLD and UYG, sold SSG. Will be buying DTO once oil breaks new highs....
Watch 1275 first then 1252, more than likely it will get taken out. The election and alot of things are working in favor of the bears. The fed doesent have much left to do. They sould NOT have done 3.00% cuts in two months, rookie mistake indeed.
What about DEE, GM and LEH? Adding more for a quick bounce? Have you ever closed out a position at a loss?
If I remain long and the market continues to selloff at its current rate I will begin to lose tons of money quickly due to the delayed convergence phenomenon. So far I've been very lucks due to V and MOS going up huge this year and my bet in google but it will only go so far. Remain long.
It's called a bear market dummy. It grinds away and makes losers like you start to cry because you have been in denial and losing money instead of shorting the housing stocks and financials the last year and a half like I have been doing.
This market is FANTASTIC! I LOVE IT! I'm still Short the Financials/Banks/Builders. Cha CHING! lots of nice entry points for short term swing trades on the long side also. What more can you ask for?
You said it not me. Did you just admit that you've been wrong all year? At least some humility and good sense shines through
About as useful as using two quarters of GDP declines to declare a recession. Usually about the same time the markets start to find a base. This is why hardly any economists use the two quarters thing, nor the 20% decline thing, to define current conditions. Mainly, only the government does. Or contrarians on CNBC trying to make their point for their lame calls. Its useless. Might as well call the top in the market about 5 months after it happened! We are in a bear market, and have been in a recession since January. Gonna be in it for awhile as well, no matter what the non inflation adjusted gov stats say.
In typical bear markets there few is any outperforming sectors. Everything goes lower. However, energy, industrial and materials stocks are making new highs. You have potash stocks, coal stocks, oil stocks, gold socks, steel stocks, machinery stocks, all surging higher. These sectors are helping to prop the S&P above 1252. There is still strengh in this market.