Gotta love ZERO RISK in the SP500 = $$$
- Thread starter makloda
- Start date
Thank you, brother. Trade in the direction of the major trend. Every pullback this year has pretty much been the same. Wait for a pullback. I do not recommend buying this high. Daily, weekly, and monthly RSI is now above 70. This risk-reward is not favorable up here. Seasonality is favorable.
The spin going forward will be, bad economic data is good, which means the FOMC may halt any tightening. That central bank has hijacked our markets they run the entire show now.
Sold 1, still holding 2.
Certain aspects of the Nasdaq probably I'm not really tracking US stocks lately just noting the percentage gains in SPX as a gauge. I noted a while back I believe the corrective phase ended on some good earnings one recent Thursday morning I knew we'd be rallying from that point most likely ( can't remember might have been some US bank earnings ). It just seemed like a turning point that morning.
The way I see it, Rickshaw is posting tongue in cheek, just having fun, but he's kind of right, the Fed is propping up the markets, similar to Australia where from little jerk johnny howards time they decided housing needed pumping up using taxpayers dollars, where money from the working class flowed uphill to the ruling class.
Yeah. Make no mistake. I do like Rickshaw and I agree with much he's saying as it's simply the truth.
I'm just saying that while we're in an incredible bull market beyond belief - we've had some nasty corrections too. Ones which probably have done considerable damage to leveraged longs. It's not a problem to give back a year of gains if you keep averaging down and raising the stakes in a drop.
Why are you talking about risk-reward in a zero-risk thread?
Damn.
So next year: bonds and emerging markets rally, banks tank, probably a 20% down period, then ramp after the midterm elections.