Moufassa, I don't like playing market turns unless the signs are clear. These signs are mixed at best. On the one hand, we could shake off MSFTs news, maybe pick up some equalizing bad news and being so far down now. . .there is little support left before the full retest. On the other hand, early July is usually filled with upward surprises and we still expect October to be the full retest. . .so if we were to move northward off this buoyancy into the summer doldrums. . . we wouldn't see the real retest until then.
I am not convinced that this afternoons strength will hold through until tomorrow's opening bell. If it does hold straight into 2 hours into the trading day, it might hold for a few days. . .and become the burst rally before the summer trading range. Either way, I am looking forward to an uneventful period between July 16 and Sept 3 or so. . . and I think September will be more like August than like October. . .meaning I think it will be rather uneventful as well.
I'm looking forward to the typical Global Economic Meltdown scare in mid-October. . .an historically rough time for Asia. And I can imagine many stocks BELOW the April 4 prices then. That will be the time for loading up with new core positions. [See AJ's "In Search of the Perfect Portfolio" board on Insighters for help putting cores together.] . . . and frankly, I can't wait to become a buy and holder for a change. There have not been many stocks worth holding the past season or so. . . PNRA, FBCE, FNSR, were great. . .then suddenly I'm wondering which others were worth it.
Anything bought into this week's activity would be considered a swing trade, because I am confident that the rest of the summer will be dull, uneventful and in a tight trading range.
I hope that helps,
Rande Is |
