Enjoy the next week and lets see what late summer and fall bring for us bears. So far I feel like we have been caught in a bear trap and the jaws are getting tighter.
Do we bite the bullet cut the leg (and an arm) off and jump in or do we wait and hope sanity returns.
Waiting for the gap fill
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*Mid-week market update:* The decline in the S&P 500 seems to have been
arrested at its 20 dma (blue line). The next question is which price gap
gets fille...
2 days ago
I can't believe for one moment that holding onto my cash right now will prove to be a bad decision.
ReplyDeleteBear trap ? More like bull trap. The multi-year horror show is just getting started in Canada:
ReplyDeletehttp://www.vancouversun.com/business/Hogtown+muddied+Toronto+losses+scary/1913058/story.html
http://www.vancouversun.com/business/deficit+four+years+duration/1913787/story.html
Anon 1 - FWIW I am holding on to my cash too.
ReplyDeleteAnon 2 - Sure feels like this bear is caught with his furry leg in a trap. I didn't mean it in the sense of a bull and bear trap in stocks, just that the rebound (in all assets) has gone on further and for longer than most of us would have thought.
I too think that we will see new lows. But my opinions have very little effect on the market. The numbers will lead us to the truth.
Don't give up guys! While waiting for sanity to return to our little town, don't forget to take a small part of that money you're saving by being a renter, and take yourself out for a little treat that recent homebuyers cannot afford, like a beer on a patio, or an ice cream.
ReplyDeleteI'm a firm believer that one should reward oneself for being decent at math.