Volatility is @ its peak....
Everybody hurting.....
Bears in total control...
No support in TAPE.....
Pundits saying "don't buy don't buy"...until its all clear.....
Gold goes UP when US$ is UP......
Oil pulls back on no news......
Fed not raising interest rates but panic is there.....
Carter Worth smiling all the way to his bank...now...not before......as he has been bearish for 6 months ?
SEE...who said its not very clear what we all should be doing....sell everything & take loss.....
BUT.......
VIX is @ 23.38......IF its suppose to be so bad why we are not above 53.29 which is 52 wk high......
Why CMF is green in all indices.....
Why S&P 500 has not violated its recent low of 1812.24
Why Nasdaq is not below 4292.14
Something to think about when you are having your dinner tonight or breakfast depending on your time zone......
Who said...wall street has to make sense...it is all EMOTION.....
SO .....we are having emotional selling for 6 straight weeks.......
BECAUSE...wall street likes CERTAINTY from Fed, Oil, US$,
Chinese GDP growth......
There is no such thing as "clear picture on any stock or market ever"
When everyone is negative...it is a perfect time to buy and stay put.....
Remember famous saying by Warren Buffett..."buy when there is blood on the street"
Well there has been blood from good reports, from FB & GOOG and blood on the street from bad reports like AMZN & LNKD.....see..it does NOT make a difference when emotional selling is taking place.....
VOLATILITY will remain high, but staying put in better ideas will bear fruit.
So take a step back and focus more on your stock picks and take advantage of good stocks breaking support, chart is getting " more than ugly "
I my opinion, all good stocks will reverse this "irrational selling"
Take a long term view of all your exposure, i do not see why it will not work out.
Good luck with your own comfort level, it always gets very painful before it turns UP as is the case now.
BLOG does NOT give buy or sell.
Saleem
13 comments:
Hi Saleem,
Rebought RLYP @ 17.05
Stocktrader
Hi Stocktrader,
Bought more RLYP @ 17.02. I had to average it down. GL
Joseph
Hi Stocktrader,
Good luck with your favorite RLYP purchase.
Saleem
Hi Joseph,
Good luck with the addition. I think RLYP's chemistry is perfectly positioned for its market and against potential competition. Unfortunately, the stock market is making everything look foolish. The major cash on hand plus sales already ongoing makes this one of the safest "biotech" companies in my opinion over the long haul.
Stocktrader
Hi Stocktrader,
Thanks for the response. Let us hope RLYP will make a run.
Your bear plays TZA and SPXS are flying. I never thought the market would correct so much in 2016. I expected a pull back but not so much. I just traded some ETF funds and made some money. GL
Joseph
Hi Joseph,
Thanks but don't give me too much credit--I'm still not protected enough, down 0.75% today...
Portfolio: TMF GM TZA DKS SPXS TREE RLYP WLH FIT
TREE and WLH hurting badly today despite the lower interest rates.
Stocktrader
Hi guys,
Amazing how fast this market moves...despite big hedging that should keep my portfolio less volatile than the overall market, I'm only down 0.1% now...
Stocktrader
Hi Saleem,
Added a bit to FIT @ 14.53
Stocktrader
Hi Stocktrader,
Good luck with more FIT.
Saleem
Bought FB @ 98.80. Nasdaq is hit so hard. Hopefully the market will reverse. GL
Joseph
Hi guys
I made a big mistake in selling AUY. Look where it is now.
Joseph
Hi Joseph,
Excellent entry in FB,it has filled earnings gap.
Saleem
Thanks Saleem for your encouraging words. One of my friends in Silican Valley has been telling me to buy FB for a long time. I remember it was trading at 94 before earning report. I just took a small position to see how it works. GL
Joseph
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