We closed @ low of the day on Friday.
Deeply oversold bounce are lasting just for a day
We are heading much lower .....
How low is undetermined but 10% more lower is a safe bet
Bank of England & Bank of Japan are going against mighty Federal Reserve of USA but failed in changing bearish tide.
Based on current determination of Fed, unless they pivot, this bear market will continue.
IF you have to plan your investment dollars deployment then after 1st quarter of next year may the most opportune time
SO there is much more pain to endure and may be much more painful than Fed prediction.
SO...think hard and listen to your rational self...
YES....6 more months of same same which we have endured in 2021 & 2022
While we all want to be " lucky " and then call " genius " but it will all taken back with next wave of intense selling...
Bear markets are never fun, because it takes good & bad stocks down with same intensity
SO do not feel bullish with oversold bounce, may be raise some cash or reduce exposure, because 6 months is a long time to wait & suffer with reduced equity.
Understanding of current bear market is more important than just being in market and hoping for the best outcome ......
Never heard in 5 decades that any Fed wanted to " inflict pain " but this Fed is hellbent on doing it....
Stay extremely watchful & defensive.....
Good luck with your own take on Fed & markets....
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Last week: +0.28% (YTD: -24.03%)
Notable Leaders: SYM GTLB IONQ
Notable Laggards: BMEA LYFT SNAP PLAY
Some of the portfolio's top positions did well this past week helping the portfolio hold steady in the face of more selling on Wall Street. It was another week where I didn't make any adjustments and everything does have the feeling of being on a sinking ship. I take comfort in anecdotal evidence of inflation moderating and sentiment so extremely poor, but ultimately we still need to see the official CPI numbers reflect softening prices or it will not be enough. Now that earnings season is upon us, we should get more information about how companies are navigating the economic conditions, but it may merely be the confirmation of the poor news we expect. My eyes remain focused on any year-end winners that may reveal themselves in the coming month.
Holdings: SYM ENVX IONQ GTLB PLAY LYFT FLL SNAP UPWK BMEA ZENV cash 0%
Stocktrader
Hi Stocktrader,
Last week UP .33%
YTD Down 18.32%
Saleem
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