The pullback has started and now it’s a question of the quality of the pullback to see where we go from here. Nothing is certain in the stock market! Just like handicapping sports its a question of bias. Where is the value today?
Unlike sports, there are much more moving parts to consider. More parts than the human brain can comprehend. So the only way to approach the stock market is to simplify your procedure and use methods that you can comfortably handle.
Otherwise, you will be looking at a screen of lines and numbers and get brain mush!
This morning we are continuing the pullback with the markets set to gap down .5% or more. I will be looking for a spot to get long but do not think we are close to that point yet.
For amusement, something happened yesterday that I thought would be on the back burner for awhile. We had a Fed Head calling for a rate hike!!! You really have to wonder about the incompetence that surrounds us. The world is melting, other countries are going to consider leaving the EU, Terrorism is speedily getting out of control, Tourism is plummeting, immigration is also getting out of control along with the ever increasing debt.
Not a pretty picture. Combine that with the population getting more and more disenchanted with politics and politicians. And we have a Fed Head calling for a rate hike. Everyone had better keep their fingers crossed that we get competent people in key positions very soon. Otherwise, I am afraid its lights out:)
The stock market has held up well considering but the U.S. economy can only take so much. And I think that so much is here. The next recession will be one to remember. Unless things change fast it will make the housing crash seem like a blip.
Enough good news. After all the NFL is right around the corner. How bad can things be:)
I have to say again that I in no way intend to imply and political leaning right or left by these comments. I am an independent who looks at things issue by issue. In particular, for this site how it relates to investing and the risks investors face.
There are some very sharp people that write on this subject every day. One that comes to mind is Jim Rodgers. Reading what he has to say will keep you informed as to some of the issues. Although keep in mind that no one can predict the timing of when!!!
I presently have a small assortment of stocks both long and short. These are for swing and BO trades. I intend to look for more with a bias now to the long side.
I am about ready to put up my 4th top 10 trading site. It’s important to remember that this list is only for the free information that the sites give out. The subscription sites are a completely different animal. I am hesitant to put out my list on those as subscription sites in the stock market are difficult to evaluate. But I have my opinions and still may give out that list with some caveats. We will see.
Good Luck Today
RickJ’s Handicapping Picks