Yup, ditto. I occassionally check it at work and keep seeing these ranges. Since there hasn't been a truly forceful drop, I almost get to the point where I think maybe I'll get in some stocks anyways, it hasn't dropped. But I each time I recall reading something that pre-bear, pre-crash markets lull investors into buying, the signs are there but the "incident" to set it off just hasn't occurred.
Then again, there's the contrarion viewpoint - everybody is nervous and seems to be expecting a downturn, therefore it will go up (here's to the whipsaw).
At any rate, I am biased to the short side. The market is somewhat directionless right now, but I believe it is waiting for the facts to prove that inflation is moving in. I think that these facts will show up. The full impact has not been seen in any government statistics released to date because of time lag (both in compilation of data and in the movement of inflationary factors within the economy). Of course, I could be wrong, but I am waiting for more signs to the contrary.
In the meanwhile, I am doing limited trading (way too busy at work to watch the markets for scalping but also not willing to take many position trades because I don't see many good entry points at this particular time).
I think the market is very tired. No real buying power, just needs the impetus to push it over the edge into selling. Since that's my obvious opinion/bias, I'm following it and preserving capital until the market shows me something to change my mind.
But I gotta say, Ward, that in the meanwhile, I also find it exhausting.
Regards, t. |
