Opinion on Market directions from here..

Lets see what Traders on ET think is going to happen next with the S&P..

  • Market calms and continues to climb, generally up Making new highs

    Votes: 6 35.3%

  • Market consolidates for weeks before rising again

    Votes: 5 29.4%

  • Market starts to trend down

    Votes: 3 17.6%

  • Market continues its sharp decline, more crash, generally down

    Votes: 3 17.6%
  • Total voters
    17
C

cdcaveman

would love you guys to give some input on market direction from here. If you guys have some statistical models .. lets hear your stats.. I'm really curious what guys are thinking at these levels.. I personally think we are in for more sellling..
 
Today the NQ reversed hard, having bounced off from the previous day high after the heavy selling in the afternoon. Because of this quick reversal, and the fact that we closed on the high, and the fact that we are now above the range of the past few days, this seems bullish for me. But who knows what tomorrow will bring.
 
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I agree with Warren Buffet
buy more when the price is low
but you need income or a job to do that
I sold some bonds way too early and that gave me some dry powder
I made my last S&P purchase at 1806
I still have some cash left, but won't be interested in buying anymore unless we dip below 1806. I like these shakups. Too many weak hands (both retail and pro) selling at dow 18000. Once we get rid of all of them, we should be able to go on to new highs.

But I don't trade the stock market. I'm just a stodgy old investor.
 
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xandman said:
Mildly bullish, but worried about the elevated Vix. Gold seems to have found support.
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I have an asset allocation fund which keeps 10% in GLD (60% stocks 30% bonds.) I bought it way up there. Everyday I have just watched it go down and down. I can't even remember what gold is anymore. At one time when I put it on it was supposed to be an alternative to cash. I have noticed it has stopped losing money everyday. I'm going to rebalance in December so I guess if the stock market doesn't crash and bonds don't tank and the creek don't rise I will have to buy some more (sell some stocks or bonds) just to bring me back up to 10%.
 
Gold to be is a play on inflation... I think the market is the leading indicator so gold went up anticipating inflation.. Then went down anticipating interest rates and deflation...
 
Plus I'm not 100% on anything... It just seems timely that we have a major correction as the fed premium gets backed out through de leverging
 
cdcaveman said:
Plus I'm not 100% on anything... It just seems timely that we have a major correction as the fed premium gets backed out through de leverging
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I'd hardly call it a "major correction". We work everyday just to get down 10% from the all time highs.
 
loyek590 said:
I'd hardly call it a "major correction". We work everyday just to get down 10% from the all time highs.
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From a VIX perspective, I think we just got a major correction. Hopefully, it is not a bear market.
 
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