What a difference a day makes. Today Dow up 1.9% and Nasdaq up 2.5%. Yesterday we were disappointed by Fed minutes and today we were very happy about Fed's comment to "act if necessary".
- There is nothing changed since yesterday. Traders' mood changed.
- How can we down 2% one day and then next day up 2%? I think this again taught me a lesson, don't be so sure. That's when you're blind and taking unnecessary risks.
- Once you started to think you're in sync with market, the market kicks you hard.
- I'm back in the wait and see mode, and with all the puts and shorts down big today.
- Even though I still think we'll head lower to test low, today's market action shocked me. I expect at most a 1.5% gain, but 2.5%? Probably people knew Fed will cut early before Sept.18th.
- Again for these who bought just before the market closed today, you need rallies to upload your shares, not a good place to be long.
- So far the market is still down for the week, let's see if the bulls can run us higher this week.
1 comments:
I think you'd have to look high and low to find anyone who follows the market to predict what has happened on Tuesday and Wednesday of this week. It's almost impossible to predict these swings.
I think the only safe bet is picking up great companies at a discount and riding them for at least a few weeks.
My three cents,
David
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