Well, that was an exciting day. Gotta love when the nagging voice in the back of your head insisting you made a bad call turns true.
But that's why I'm not investing in traditional markets. These ranges are too nerve wracking. I'd rather park money in long term trend plays than skim the marginal gains to be won from the markets at these ranges.
That said today's big pump gives us no clearer picture of whether the market is capable of breaking beyond the resistance zone it's struggled to remain in for the better part of 2 years. Ultimately, until the market confidently breaks the 3,000 range, the 'triple top' will be in and the market will enter recession. Maybe I'm impatient, as I've already moved my eggs in "recession" baskets, but the crash will come sooner, rather than later. But I choose to live by the mantra of, "he who strikes first, wins." Thus, I act proactively with my investments, as opposed to reactive. As my last post made clear, I'm clearly no time-traveler/oracle.
Regardless of my ability to predict trend changes, the proposition that there's going to be significant profit taking tomorrow to even out today's surge, would be an irrational stance to take. But hey, irrational markets are irrational, so it's probably the wrong stance to take. SOO go go new S&P all time highs 4/24/19? One final round before the markets face the hangover.
But that's why I'm not investing in traditional markets. These ranges are too nerve wracking. I'd rather park money in long term trend plays than skim the marginal gains to be won from the markets at these ranges.
That said today's big pump gives us no clearer picture of whether the market is capable of breaking beyond the resistance zone it's struggled to remain in for the better part of 2 years. Ultimately, until the market confidently breaks the 3,000 range, the 'triple top' will be in and the market will enter recession. Maybe I'm impatient, as I've already moved my eggs in "recession" baskets, but the crash will come sooner, rather than later. But I choose to live by the mantra of, "he who strikes first, wins." Thus, I act proactively with my investments, as opposed to reactive. As my last post made clear, I'm clearly no time-traveler/oracle.
Regardless of my ability to predict trend changes, the proposition that there's going to be significant profit taking tomorrow to even out today's surge, would be an irrational stance to take. But hey, irrational markets are irrational, so it's probably the wrong stance to take. SOO go go new S&P all time highs 4/24/19? One final round before the markets face the hangover.