The sp500 is floating around 2162. It is just sitting there. There wont be a selloff until there is fear of losing money. There is nothing to talk about in the news other than terrorism and shootings. People are not worried about their money. The wealthy are sitting tight for now. The middle class is riding high with few worries. What happens next?
Tuesday, July 12, 2016
And just like that, the market gaps up to new highs. Trading is fairly quiet during the day. Price is giving soft love taps to 2155. Lately its calm all day but then price gaps up in the morning. The stair stepping thing.
If all the action is in the open, then there might be people making longer term trades. Who knows. My 401k is at a new high total, thats cool. Is the market pushing up before dropping down like in the brexit vote? All i know is people are buying at all time highs. How dumb is that? That is like buying clothes after they raise the price instead of having a sale. As King Louie said in Jungle Book... "cur-aaaz-eh"
Monday, July 11, 2016
The sp 500 is making all time highs as we speak. That should create excitement and coerce people to make trades.
It was pushing up very slowly after the opening. It would probably keep rising for a while.
As i type this it is hitting 2138. It is an interesting time because i know there could be a record high breakout to the upside or there could be a major selloff falling down to 1300.
What i do like is how my oil stock is not correlated with the market day. For a little while they were moving together.
Friday, July 8, 2016
So, im seeing this index sitting right at all time highs. It is at 2120 this very moment. Brexit was a major event in the news but very minor to the US in reality. It still cared a lot of people into making trades. Now we know people are listening to economic news. Maybe that was the wake up call. Maybe the big fall is being set up. You cant have a market decline if the market participants arent reading economic news. If bad economic news will now catch the eye of many people, then a major event that is actually major to the US in reality can cause a market selloff. It is interesting trying to figure out what would cause a decline but in the end, predicting is impossible unless u actually have super powers. What i do know is that we are vulnerable to a selloff. I have no clue what will or could cause it. When a selloff happens, it is because enough people decided to sell at the same time and more join in as it gets worse. Then vultures like me start circling.
Thursday, July 7, 2016
Ahhh, so many opportunities. So many depressed assets to buy. Life is too short. I know, I will live to be 100 so i can die with a huge trading account :)
I was checking out GREK which is a solid representation of the Greek stock market. I would buy it. It peaked at 25 back in 2014 and has been bouncing around between 10 and 5 lately. Within a few years i can see it back up to 15. It would be a pretty solid trade in my opinion. The EU is being forced to move toward stricter economic rules for member countries. Once they get over the accountability hurdle, things will look good again. The EU economy may never catch up to the US economy but thats another story. GREECE looks like a good buy to me.