Holy crap. I hadn't noticed what it did over the past couple of days. I was talkinga bout the Sept - Oct gains. Wow.
I'm no expert, but what do you guys think about the long-term for financials (looking at UYG) and oil (DXO)? The NASDAQ too (QLD). They've been so hammered you have to wonder when is the time to get in there. UYG is at 7 bucks and change, and was at $56 this time last year.
Well so much for that rally attempt... Here we go again. Patience guys, patience. At this point I'm not even bothering trying to catch the turn -- I need to see a real breakout before I go in.
I've said before that we're going to get a big big rally ... when that happens, UYG and DXO are going to be very profitable. The uncertainty is whether we're going to get a big crash first or not, or otherwise, just continue the painful and slow bleeding for a while. Post-election day is probably where the turning point is at. If I were you, I'd wait to see a market breakout followed by a modest pullback before I go long. When the breakout happens, I think financials, energy, basic materials/agriculture and utilities should be some of the most profitable sectors.
I'm curious - what are you looking for to see this? I ask because it seems we had a market breakout after Oct 10th when the market rallied something like 16-20% over a handful of days and then has pulled back basically to those original levels. It also seemed to have capitulation when you had the 700 pt fall followed by a 700 pt rally.
I almost wish we'd have a couple of weeks of the market basically doing nothing, moving less than 1% in any direction, kind of let people catch their breath.
david faber just reported one of the hedgefunds short volkswagon was einhorn's greenlight capital. feel bad for that guy if he was short a lot. the losses there are historic...some hedge funds were loaded up short volkswagon because it was overvalued. lol now it's really overvalued
so if the fed lowers should that help the market or will it go down since that just indicates there is more trouble out there?
I bet it tanks in any case, but I think it will run up to that point. Look at the last few rate cuts.
This will be about the most irrelevant Fed cut ever... meaning, even if it goes up, it has the chance of tanking right back down soon after.
Rally is up to 700 points, yet Silver does nothing. Even more unreal considering that Silver has always immediately mirrored the market's downward trends this past month, yet lags behind everytime the market has a good day. Anyone have any thoughts as to why this is? It's been really perplexing to me.
Wow. Up 700 and holding... SSO and DDM are beautiful on major up days - I'd forgotten what that felt like. lol.
