rande- regarding market
earlier you seemed to indicate you felt the market would be "different" this summer, then you felt like the action this week would be indicative of the market this summer?
if i am reading you right, then the conclusion I am drawing is that we could go test the upper end of the trading range on the nasdaq (3900-4000) then go back and retest and even set new lows on the nasdaq. I am seeing the strong possibility of a "bad summer" again, and maybe this is the time to be taking money off the table again (which is hard for me to do) on the positive sides, may-october in election years are usually positives, and months after big decline are usually positive which means may could take us back to the top end of the range, but the possibility of breakout to new highs very slim, I am considering the strategy of going to mostly cash in the next week or so in anticipation of much lower prices over the summer, would appreciate your thoughts on this subject, and what you see happening over the summer? i think the next few days are going to be positive but it can quickly turn negative and i am having a hard time seeing the reward worth the risk
anyone else have any thoughts along these lines? something just doesnt "feel right" going into the summer in the face of higher and higher rates, the only thing that could turn this around is if the fed backs off in june so as not to affect the election, but the data is just coming in too strong, the next cpi/ppi data could really be key
thought this could be a good weekend discussion topic
need to get my strategy set for summer
thanks
ps i would still have trouble turning loose of lptha under any conditions, but everything else seems flat at best to very down at worse over the summer at this point, and i wouldnt touch the otc bulletin board under any conditions |
