Have we reached a "bear market LOW @ S&P 500 of 1200.43"?????
The crack in OIL is saying YES !!!!!
OIL...the perfect chart & perfect trade is CRUMBLING ...so much for staying with WHAT IS WORKING ????
In my portfolio :
Added 8% more SOL..my cost went down to $19.09.....Hey one of these days....I will be AHEAD $$$$
AAPL Down $2.98...many analyst are weighing in about their prediction for next Monday ER....they are generally "less UPBEAT"....which IS a good thing...based on their channel check????
SOL Down 43 cents
HOD.TO UP 73 cents
@ 11.21 AM the following are green on my watch list :
PMCS,NVDA,IGT,CCJ,NMX,VLO,VAR,TSO,DUG,BRCM,
SGP,GRMN,ABX......
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Just a check in to say hello. I see and hear we are in way oversold territory and due for an intermediate term bounce AND that this bounce is a rally within a bear market, but by no means the bottom. Even the most optimistic traders I follow see it this way...sounds like you think we are near a final bottom?
As a parent with children I'm relieved that we are squeezing excesses out of the system before they become young adults. I'm not keen on passing onto them a legacy of excesses they didn't help create. The flip to this is there are alot of people in real pain because of this cleanse we're going through and it affects all of us at some level. I know it does me.
I'm down 5.5% since this slide started and feel fortunate it isn't more. I keep telling myself to be patient and there will come a time when going long this market isn't such a risk. Maybe soon. Untiil then I'm sticking with daytrades. Wish I knew how to short successfully...but haven't got the pschological makeup for that.
best to you!
B
Hi B,
Bear markets are very painful.....it is not the low...it is the process which is very painful...hurts equity & confidence in ones ability to be profitable....
We are waiting for a rally !!!
Saleem
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