Poll Next Week Bias: A Crash Would Be Nice
- Thread starter shortie
- Start date
The world cup starts next week, no one arnd the world will be trading
I picked up NLY 5/13 @ 15.95 after it dropped off from the earnings miss and the May crash, looking to add to the position @ 15.00 (long term hold esp with that 15% div). Came close, but then rallied right back to the pre-crash price. That's a sign everyone's going defensive IMHO. For day trading, shorting momo stocks' rallies has been solid.
We close green tomorrow, guaranteed. Way too many permabears calling for market to collapse. Tomorrow will not non-eventful.
Being contrarian, the more "bearish" sentiment, the more buying opportunity that is. The Smart Money might be making their moves after they started dumping stocks when Dow and TSX was at their recent peaks in late April.
A lot of stocks are making lower lows with relatively normal to small volume. It looks like small investors are panicking and no new buyers are in to support to price level. Wait till Smart Money "gap down" below May 25 low.. and quickly buy back again. I bet a lot of traders have their stop-loss at May 25 low.
May 25 low is also an important support level equivalent to February dip. It will be interesting to see if the market will continue to support at that level. It it does, then we may see a double-bottom reversal once Smart Money start to make their move, and mass investors will jump in.
If the price level breaks below February low, then we are in a for a fun ride.... LOL
**START LOOKING AT BORING, NON-SEXY COMPANIES ie. infrastructure and utilities companies that pay solid dividend over time. It will be another great opportunity to pick up some stocks as your core portfolio. It shouldn't be too hard to find solid companies with 4-6% dividend yield.
In turbulent, volatile times, dividend paying companies tend to weather the storm better. More investors are seeking dividends while waiting for the market to rebound.
A lot of stocks are making lower lows with relatively normal to small volume. It looks like small investors are panicking and no new buyers are in to support to price level. Wait till Smart Money "gap down" below May 25 low.. and quickly buy back again. I bet a lot of traders have their stop-loss at May 25 low.
May 25 low is also an important support level equivalent to February dip. It will be interesting to see if the market will continue to support at that level. It it does, then we may see a double-bottom reversal once Smart Money start to make their move, and mass investors will jump in.
If the price level breaks below February low, then we are in a for a fun ride.... LOL
**START LOOKING AT BORING, NON-SEXY COMPANIES ie. infrastructure and utilities companies that pay solid dividend over time. It will be another great opportunity to pick up some stocks as your core portfolio. It shouldn't be too hard to find solid companies with 4-6% dividend yield.
In turbulent, volatile times, dividend paying companies tend to weather the storm better. More investors are seeking dividends while waiting for the market to rebound.
Yeah. A little scrambling going on by longs here. The slow but steady sell-off and non-reassuring pattern's along with continued dollar strength, Euro weakness, commodity weakness, and gold strength.
I am looking at 1023, 1008, 998 as support in the spoos. Op ex is next week I doubt we make it to 1008 or 998 but 1023 is definitely possible.....