Since the recovery was almost vertical and low volume, I think 7570 is good enough for my 7500-7750 window. I thought we might do it in more of a zig-zag fashion, but since we didn't, 8000 seems unlikely. Too much too soon.
Looks like a reversal on the $1 trillion Fed injection which will likely prolong the agony. I think Hussman is right about the futility of buying these assets. The market will begin grasping this soon. Buckle up and prepare for the double bottom (if all goes well).
Go find me some 'hedges.' LOL
Speaking of which, I expect some complaints about not gaining enough today (i.e. like a short fund). But the fund is essentially up 5% against the S&P today.
Just wanted to add that I am on a 1.5L bottle of Tawney port. It is Taylor, very cheap but it is not too offensive...very sweet caramel. I don't care too much for the sweetness. I may try Sherry next time. One this is for sure it will knock your dink in the dirt. This stuff unlike other wine does not exaggerate its alcohol content...every bit of 18%. I do my best analysis after about 5 drinks. I never go over 7. Anything more equals a hangover and I don't have time for that. But to be honest I need a couple of drinks to get the worry wort side of me to be influenced by the analytical side which when putting emotions aside is quite smart.
This forum is full of smart people. We need to do a weekly or monthly market is higher or lower kind of thing. Majority of votes should get say a 10% short term investment of our money. We are contrarian by nature so maybe a monthly time frame would be best or if we can be convinced nothing has to be set in stone. Lets go with our gut and experience. I say lets use some double down etfs for the investments. I will start off saying a little birdy told me the DOW is headed for 9000. It makes absolutely no sense and I feel resistance at 8200 but my gut says 9000 on the DOW before a sharp move lower to test the lows. What say you?
I drank some Austrailian port the other day but I do not think it was Benjamin, it was ruby. I drink the cheap stuff. I am in it for the relaxation and after a couple of drinks it all tastes the same anyway. I am really a beer drinker, Heineken is my beer of choice. I am trying to drink more red wine for my health so I chose the ruby ports mostly. If I can find the Benjamin I will try it next time.
Have you sampled Benjamin Port from Australia? It's a tawny port, sweet, yet well balanced, comes in a cool ink well type bottle & to top it off an incredible bargain/value IMHO for the inexpensive price.
Indeed. If we could time the euphoria cycles we'd be rich instead of sitting on our hands for yrs.
Ironically I was thinking of Monty Python and the Holy Grail last night; "What is the air speed of an African swallow?" LOL
Amazing you just posted my Holy Grail chart. I have shown this to several people and used a 6 inch ruler on my computer screen to show them where the market was headed. I would place the ruler on about 1982-1995 line. I was laughed at many times over the past 3-4 years. I have been mainly in cash over this time with my largest none cash position HSGFX. I am about 60% in stocks now. The market could and probably should go lower but at these levels I think we have a better chance at reasonable returns over the long run. I am doing a little more short term trading now as well. I expect a restest sometime in the next couple of years. Going forward I am counting on and hoping for new technology to benefit the market and mankind.
good luck to you