I’ve been watching the last few up days with a side eye. That seemingly endless “rally” got to hit ceiling I thought. Surely, someone. something, sometime, “reality” will sink in. I got to be honest I was really really tempted to get in also, high as it was. The talk of “low interest rates” is certainly seductive but it’s getting to high to handle. Dr. Tharp and team had been coming out with their market analysis — that this is a bear market we are having. I decided to wait for the confirmation of where the prices will go next, because I thought it should already be heading south with that mixed result and otherwise teeny tiny increase in the indices. (These are signs of market reversals) Busy exam days are upon me so I decided, if I will get in, I will just get past the first exam day which is usually the hardest for my language-challenged kids. Plus some market data. Today’s China data (again) was another weak result. 20% less shipment to China in dollar terms. That’s a heavy load sinking stocks once again.
This week we are going to be kicking off the earnings season in the US. Plenty of reason to see wild swings again since we had the last 3 months of “bad news”. Yeah, I am not optimistic about the results, but that’s another ingredient to be thrown in the pot of interest rates, so we will have to see how the earnings and economic / jobs reports play out = continued volatility.
I will be presenting another round of webinars and workshop mid-November for staying profitable and sane during this wild market swings. If you are an investor who likes to invest for the long-term, this workshop is for you! Email charmel@highheeledtraders.com to register your interest. I will be posting about the free webinars here in a while. Be wise out there.
