lotstodo
aka "The Jackal"
Man, I don't know. My gut tells me that today was some bargain hunting by bots after yesterday's rout, but you never know. I am ready for a correction since cash got attractive about six months ago. I'd like to jump back in soon though. Right now I'm pretty much in ultra short bonds, bank notes, cash, dividend queens, and some commercial and multi-family mortgage stuff. It's relatively safe, but not the kind of thing that feeds the beast.
If you look at this market, it has been in fits and starts since February. The biggest indicator to me that we maybe haven't seen it all yet is that it is a very broad downturn, with 2/3 of the S&P in correction territory yesterday. The broader market is however bolstered by a few wunderkind like Amazon and Netflix which hide the real depth of the plunge. They will likely need to catch up before the market can really turn to recovery. I was going to buy last night, but held off at the last minute. I guess we will see if I'm being too cautious, or if I was correct to not try to catch a falling knife.
If you look at this market, it has been in fits and starts since February. The biggest indicator to me that we maybe haven't seen it all yet is that it is a very broad downturn, with 2/3 of the S&P in correction territory yesterday. The broader market is however bolstered by a few wunderkind like Amazon and Netflix which hide the real depth of the plunge. They will likely need to catch up before the market can really turn to recovery. I was going to buy last night, but held off at the last minute. I guess we will see if I'm being too cautious, or if I was correct to not try to catch a falling knife.