Bear, correction, or dip? Was today just the dead cat bounce or is the scare over?

That was an interesting day. From a high of over 25000 to a low of just above 24100 and closing just shy of 24500. Tennis anyone?
 
The Sound Guy said:
Too much money trying for too few good stocks. All that 401K and HSA account money has to go somewhere....
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A lot of that money is shoring up the bond market. You have some target date and balanced income funds bleeding money because they are locked into 60% investment grade bonds and a 10% or so limit on cash. I have some bond investments but they are ultra short or industry specific. I have a little in MBS's but very little, maybe 5%. I only bumped my equities by 3% today, all in the TRP Capital Appreciation Fund (PRWCX), and only did that because this looks like a double bottom, which would be the end of the C wave if it isn't a bear market. If it is a bear market I haven't risked too much, and the Capital Appreciation Fund has an Alpha of 1.09 with a beta of 0.61 against the S&P 500. They do this with 60% stock in most markets and a flexible holding of cash and bonds. To me that's magic. I could never pick stocks and balance those investments that well on my own. My single stock picks are just play money because I'm too damn old to recover if I blow it. Home Depot stock did buy me a deck last year though.
 
J-man said:
That was an interesting day. From a high of over 25000 to a low of just above 24100 and closing just shy of 24500. Tennis anyone?
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I think the bots kicked in after support was lost at yesterday's close. They drove it down 2% then started buying their own selloff right before the close. With so much intraday trading being automated, it's easy to read too much into daily reversals one way or the other. It is something to watch though.
 
My big names dropped a bit, overall not too bad. Saw a drop around noon, and a bigger dip around 3 or so. Betting the later one was a lot of programs kicking in. Holding tight for now ...
 
J-man said:
The poor fella who bought TLRY at $300 last month is probably questioning his life’s purpose today. I did get a few shares of a cheap cannibas stock for purely speculative purposes.
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The people who bought Amazon for $2000 on the 1st of Oct are not feeling too hot either right now. (Right now @ $1527) You never know how even a "sure thing" is going to turn out.
 
Not sure why...
However my gut was saying this market is too top heavy back in September...
So I sold out all my positions... other than 2 which have been under water for a while.

Lets let the roller-coaster go for a while... see where it ends.

May well be TPTB are crashing the markets to buy for a bounce after the election...
And may well be TPTB are letting the air out of an over-inflated market.

Regardless...
I do not trust this market currently...

So I am mostly in cash.
 
Today I received an email notification from Coinbase that effective 8:00am PST they were pausing trading of Bitcoin Cash (BCH) to minimize disruption during a planned “hard fork on the BCH” network (whatever that means). Although they assured funds would be safely stored in Coinbase until normal trading continues I decided to begin my year end tax strategy moves and cashed out of all my crypto-currency holdings. Granted I got in at the prime highs as it was my first experience with them but thankfully it was only a small speculative amount which is good considering it was an overall 74% net loss. I’ll keep my Coinbase account open and will test again sometime next year. I mainly wanted to test the efficiency of both the buy and sell side as well as understand how the full cycle worked.
 
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I stayed out of the crypto currency world...
While the geeks can give this huge techno argument of how secure it is...

Fact remains: It is only data on servers...
Which can magically change or vanish!

So how is someone gonna hold BCN accountable if my account just vanishes off the servers???

Clark Howard says one should require the banks and CC companies to send you paper statements...
Because the paper record they mailed out, they are accountable to.
 
lotstodo said:
I'm too old to be playing with crypto. It makes gold seem like a sure thing.
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Gold (metal and mining stocks) is a relatively easy game to play... as long as one sticks to the rules...
One must have BOTH:
*Economic instability
AND
*Political instability
One or the other just does not make Gold run... and mining stocks just do not do much unless the metal runs.
 
lotstodo said:
I'm too old to be playing with crypto. It makes gold seem like a sure thing.
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As you can tell I had no clue what I was doing. But there’s coming another day. I will not walk away with that much percentage loss. I want my money back. Lol
 
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