At yesterday's lows, the S&P 500 had dropped 40 points in just two days. All February's gains were wiped out. Mom and pop investors, who piled in last week at the highs, are now uncomfortably underwater. The financial media is already telling people this is a buying opportunity all the sell-off are temporary. They weren't doing that before, especially when all the problems in Greece and Ireland started then it was a different tune I feel that people are less fearful now, and that makes me extremely cautious. and excuse me, but isn't this the same advice the talking heads were giving bond buyers last September? (Bond prices are down about 15% from their September highs.)
Know you enemy! Greed and Fear are mine as with most investors we get scared out at exactly the wrong time. That why I have developed my tell for when I am wrong, if every bone in my body says buy, buy, buy, then I am a 100% wrong and visa versa. I want to buy this dip. I have to buy this dip!
After all, I have missed the rally since August in the S&P. Been in metals and oil and Ag but not really believing this move.
Know you enemy! Greed and Fear are mine as with most investors we get scared out at exactly the wrong time. That why I have developed my tell for when I am wrong, if every bone in my body says buy, buy, buy, then I am a 100% wrong and visa versa. I want to buy this dip. I have to buy this dip!
After all, I have missed the rally since August in the S&P. Been in metals and oil and Ag but not really believing this move.
We've had too many technical indicators stretch too deep into overbought conditions for too long but they have been no match for QE to infinity talk. So we'll see where this goes its to early to tell if we keep going lower than the 50dma. But for me if I need a sell-off below the 50dma with a failed test of that 50dma to be short anything except bonds of course which i have been since I started writing this blog.
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