Okay,
I'm having problems understanding this market environment. Maybe you are a little confused as well? If not you can school me and others, Please do. Here's what I'm seeing.
Market tanking straight down. Some news stories are end of the world, some are just depressed, some are hopeful for the long term, and some are calling a bottom every time we have 3 days of the market not going straight down and Dow is 10,000 by end of the year.
At what point is the contrarian in me supposed to come out? I mean holy crap we've just had a 60% drop in a little more than a year and last week my father-in-law stared up at the TV and the the Dow stopped at negative 40 points for a bit and he said "Ooo somebody must really like the market right here". He has held through a year of this crap and still has a buy and hold, maybe even double down mentality, and from what I can tell, although I try to avoid it for my sanity, half of the pundits are calling bottoms and looking for rallies after each short squeeze.
At what point is it enough to go contrarian?
I don't doubt there will and probably should be some healthy rallies in the midst of a bear, but when you get a one day up and everybody's a buyer, how can I justify buy too?
I'm having problems understanding this market environment. Maybe you are a little confused as well? If not you can school me and others, Please do. Here's what I'm seeing.
Market tanking straight down. Some news stories are end of the world, some are just depressed, some are hopeful for the long term, and some are calling a bottom every time we have 3 days of the market not going straight down and Dow is 10,000 by end of the year.
At what point is the contrarian in me supposed to come out? I mean holy crap we've just had a 60% drop in a little more than a year and last week my father-in-law stared up at the TV and the the Dow stopped at negative 40 points for a bit and he said "Ooo somebody must really like the market right here". He has held through a year of this crap and still has a buy and hold, maybe even double down mentality, and from what I can tell, although I try to avoid it for my sanity, half of the pundits are calling bottoms and looking for rallies after each short squeeze.
At what point is it enough to go contrarian?
I don't doubt there will and probably should be some healthy rallies in the midst of a bear, but when you get a one day up and everybody's a buyer, how can I justify buy too?
