clester
Well-known member
I'm doing Great! Been retired over 5 years! Can't believe it.
Looks like the rally is fading
I may wait for another day. But, I expect to be buying soon, if not today.
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- Thread starter clester
- Start date
I'm doing Great! Been retired over 5 years! Can't believe it.
Looks like the rally is fading
I may wait for another day. But, I expect to be buying soon, if not today.ATCHUNTman
Member
I'm doing Great! Been retired over 5 years! Can't believe it.
Looks like the rally is fading
I may wait for another day. But, I expect to be buying soon, if not today.
Glad to hear it, I just hit 3 years this month. If and when you buy it will be the c fund correct? Take care!
clester
Well-known member
Yesterday just blew up my divergence case. So, all I have now is a sub 30 RSI and looking for a 20 print to override all other signals. I watch the S&P for that. The S fund is under 21 as I speak but that index has been so week for a long time that I'm not using for a buy signal. It is more volatile and therefore can go lower. Also, I need to see the selling stop.
I think everyone is trying to figure out why we are dropping so much so fast. I think it could be foreign investors taking money out. China, Europe, etc
Tsunami
Well-known member
Some sentiment measures are now more extreme than even the panic lows of the 08/09 crash! It's crazy...there's really no reason for it other than herd mentality.
https://twitter.com/SJosephBurns/status/687620661825683456/photo/1
I'm on the edge of getting in today, just not sure if this is "the" low to buy, or a wave 3 low, with one more up/down sequence to go over the next week or two. Really tough call, and yesterday might have been the day...with this morning's 1878 print the bottom (S&P just went green very fast)...who knows.
clester
Well-known member
You may be right. I have been wanting to buy too.
clester
Well-known member
Looks like some buying program kicked in. High frequency traders? Big fund managers? In any case, it may cause shorts to get out and push it up more.
clester
Well-known member
Even though the rally is fading. I am buying 100% C fund. Reasons:
1) C fund has hit RSI 30 again and had a nice reversal
2) S&P successfully tested its previous lows
3) I can use 1878 as a stop loss or 1862 is the August low
4) C fund is best performing fund.
5) Holiday reversals are common, at least short term.
6) How often do you get the chance to go up so much on the S&P?
clester
Well-known member
Not feeling too good about my decision this morning. Hearing a lot of doom and gloom. The only positive is that I'm 4.5% above the S&P. Thats not nuch consolation. Maybe we can reverse this morning. That would mean the flush has happened.
clester
Well-known member
And this is the first time we have been down big at the open i think.
jkenjohnson
Active member
I thought yesterday was great and then the C fund gave up 1% in less than 1 hour. The market is sickening.
burrocrat
Well-known member
maybe this market is not for you, maybe you are not the blood and bones type, maybe you would be more content grazing on the green grass. if an animal is fat enough grass is all they need to sustain. the jackals are licking their chops after all this recent feeding, but be wary, now the big dogs come out to hunt. why chase the little creatures, let the medium creatures capture and aggregate the resource, that is when the king of the jungle comes in to feast. and there is a big monster still out there that will own them all. choose your battles wisely. this is not it, yet. if you are going to play this game right now you better be quick, and good. bon appetite.
jkenjohnson
Active member
Your BS never ceases to amaze me. Do us both a favor and don't comment on my comments and I'll do the same.
clester
Well-known member
Valkyrie
Well-known member
Good day for a turnaround. I can hope can't I?
Tsunami posted this in my thread 1/13
"Unless there's an even nuttier selloff tomorrow, looks like you and just a handful of others will win the prize for catching the falling knife!
If the bottom wasn't today, then I wouldn't be surprised to see a 1000 point swing tomorrow in the Dow...a 400-point gap down, then a close 600 points up.
It's a mess, but here's a sample chart that shows we're at a low similar to previous panic lows:
Print SharpCharts from StockCharts.com"ATCHUNTman
Member
Good day for a turnaround. I can hope can't I?
I'm on the sideline thinking of buying in I really dislike the 12:00 cutoff!
Tsunami
Well-known member
Well, looks like we're getting that nuttier selloff. Like many others I'm sure, I'm struggling to decide if I want to catch the knife today. Very tough decision. Will it bottom today?...early Tuesday?...or not? Indicators are extremely oversold. Seems like even if today is not the short-term bottom it's got to be close. One thing I can say, if I was still in stocks today, I'm pretty sure I wouldn't get out...too much risk of selling at a low here. Emotion is tough to overcome though.Similar threads
