Hi, guys, poll time. Judging by today's actions, you think the top was in or it's just another buy opportunity?
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Japan, Hang Seng, & India gapped down Thursday & Friday (except Japan gapped up Friday). Those three should gap down Monday. The sell off should continue. US should gap down Monday.
Petsamo wrote:Japan, Hang Seng, & India gapped down Thursday & Friday (except Japan gapped up Friday). Those three should gap down Monday. The sell off should continue. US should gap down Monday.
I thought you were calling for a gap up? I honestly have no clue on the gaps, but I would guess small gap up followed by selling then back to test the potential top on Tues / Wed
Petsamo wrote:Japan, Hang Seng, & India gapped down Thursday & Friday (except Japan gapped up Friday). Those three should gap down Monday. The sell off should continue. US should gap down Monday.
I went to 50% cash in my Thai brokerage account Wednesday night. The SET Index chart is ready to go parabolic and we were a couple of percentage points from last year's high.
Petsamo wrote:Japan, Hang Seng, & India gapped down Thursday & Friday (except Japan gapped up Friday). Those three should gap down Monday. The sell off should continue. US should gap down Monday.
I thought you were calling for a gap up? I honestly have no clue on the gaps, but I would guess small gap up followed by selling then back to test the potential top on Tues / Wed
If we finished at the lows, I was expecting a gap up. The SPY finished at the highs. IWM finished near the lows. So, that combination was not good. I added to my long exposure with XME, but thank goodness it was only 100 shares.
I'm at 29% cash. My longs are not-so-high beta, low beta, or underbought high beta. I could sell any of my longs. I'm in a bearish posture.