What a great time to buy
- Thread starter hajimow
- Start date
I was also one of the believers that market was overvalued before this correction. While I don't see the market might easily break new highs except some individual stocks, at the same time, I don't see any big reason for market crash or meltdown. Investors who did not get in the early recovery, will take any correction to jump in. I believe 47 can be a good high for QQQQ for the next 6 weeks and 42.5 a low for it. With these numbers you would know how I feel about the market. I also believe market wanted to rebound on Friday but investors gave it another day so they can recap on weekends and have a fresh look at the market on Monday.
Of course this so obvious, the markets take the stairs up and the elevator down, fear is stronger than greed. Markets ALWAYS fall quicker than they rise. The last 10 months of gains can be lost in 10 weeks, maybe even 10 days if all global markets collapsed under all the pressure of this intense debt overload.
Good for you Hajimow. Now it is time to get right! By the way, did you realize your GS position was synthetic stock? It's more dangerous than stock though because stock does not expire until the company goes under! Your going to get burned a new one if Mr. market keeps this up. If your still in that position you might think about getting out (buying your puts back) or hedging. Good luck with that one.