Bumping this up for the Monday Morning QB (after the fact, hey guys this is what happened BS artist kibbles).
My target remains, SPY 153.
So BS'er kibbles, what is your call (IN REAL TIME?)
Today was an over-reaction caused by a combination of index re-balancing and extremely pressured MMs (they had to release their pins and sell for fear of holding on till it was too late.. self-fulfilling prophecy) I will bet you 100 to 1 we rally much of next week, if there is no more POMO FUD.
I'll take the 100 to 1 bet and say the same thing for next week that I did for this week, which is we will close down for the week (below today's close of SPY 163.445). I am writing this out meticulously so that if I am right again, I won't be called wrong, lol (not sure if you read my spotting 7 point post last Sunday but some moron today said that I "lost" and was wrong even though I nailed it, again).
So, just for fun, I say we close below SPY 163.445 next Friday and you say we close above SPY 163.445.
Bump it up this time next weekend for a friendly "I told you so."
It's ok. Real investors are in for the long run... 153 is still above 2011-2012 level.
Remember, every financial advisor / website is asking investors to use a correction / pullback as an opportunity to buy in. So everyone is looking for this "sale" to happen soon, with tons of cash on sideline already.... Those buyers will join soon, good luck try to short the stampede.
You view of real investors and their advisors is very simplistic and mostly untrue. Real investors watched tech and internet stocks crash, and then watched residential real estate crash, many have lost their retirement security plans because of weaker employment, and have lost faith in political leadership as they can read the newspapers about our budget deficits and medical costs and college kids not finding jobs. Real investors aren't quite as stupid as the media propaganda would have you believe. Its the same reasons business don't hire or expand. They understand the real world, not the mockery illusion you believe in.
sounds good. Look for it to escalate into the day. Old school investors don't want to be long after a 20% run up this year heading into a long weekend after seeing what is going on in Asia, IMO. gl