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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 682.06+0.3%Oct 31 5:00 PM EST
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To: CraftBrew who wrote (166802)1/22/2022 3:59:39 PM
From: Trader771 Recommendation

Recommended By
Hawkmoon

   of 218301
 
Just like you I'm not an active trader anymore. There's definitely a lot of bearish buzz going on now making this one feel "different." Every story needs a "villain" and we've got Cathie Wood this time, not that she's done anything illegal that I'm aware of, but she ignored the risk models and now she's fallen, and people just like a good failure story in this industry (and who knows, maybe they'll bounce back).

I unplugged from the day-to-day market happenings so if the current buzz is hitting my feeds (twitter, youtube, etc) you know it's pretty mainstream (something for the contrarians to consider I guess). I watched Cramer's video from Thursday I think where he's going through a checklist of items needed for the bottom and he says we're not there yet. I also saw a disgruntled value guy (upset that his value names are getting hit along with the no revenue growth stuff) justifying his stay the course approach.

I live off the weekly's and, focusing on the NASDAQ since that best reflects the inflation-interest rate impact on Growth the best, we've lost long-term support. If it gets down to my lower bands I'll start thinking of re-allocating the defensive part of my portfolio back into equities to get a nice lower cost basis for the next leg up. My two cents and how I'm playing it.

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