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Pastimes : The Philosophical Porch

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claireg

To: Rarebird who wrote (10684)	9/3/2020 7:20:02 PM
From: Rarebird	1 Recommendation of 26251

I expect a retracement over the coming months to represent one half the gains from the March lows. That is to say, I expect a 650 point decline in the S&P during the Fall season before the next leg up in the bull market takes the S&P to 5000+ over the next couple of years. In retrospect, I was one of those traders who suffered from FOMO so I went back long into the market 10 days ago, knowing full well I was playing with fire and the market could start its retracement at any time. That's why I got out so quickly today. Was it worth it? Of course it was. Even with today's decline, I made 4K over the past 10 days. That is nothing to sneeze at - even though I treaded lightly. I will have my bear cap on now till the S&P breaks below 3000. My target for the retracement is 2935 SPX

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