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GMX Resources Inc. Message Board

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  • trader979 trader979 Nov 15, 2012 11:52 AM Flag

    Everyone enjoying this "Obama Market"

    Market sentiment is putrid, stinky, and filthy. Closed-end high yield bond funds have fallen so fast in the last three days that I can't even keep up with how fast they're falling--fortunately my stop loss orders executed and got me out of most of them early in the week. There is no demand for equities in this market right now. Selling isn't too heavy yet but demand is extremely low; people are waiting for much lower prices before they're willing to buy. Everyone is de-risking, hedging, and shorting as fast as they can, as far I can can tell. The S&P 500 index could easily drop another 5% from yesterday's close before the market makes a real bounce up. We'll probably see some kind of rally on the day after Thanksgiving. I just bought SDT with an 18% yield for the long run in my IRA. It may go lower this year but that's a good deal for the long run.

    Sentiment: Buy