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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Drygulch Dan who wrote (179891)	9/30/2022 5:08:36 PM
From: GROUND ZERO™	1 Recommendation Recommended By sixty2nds Respond to of 218589

We had bulk pickup earlier this week, I saw a bai dun harris campaign poster in the bulk pickup garbage at one of our neighbor's... I guess they finally lost enough in their 401K... LOLOL!!!! GZ

To: Drygulch Dan who wrote (179891)	9/30/2022 9:47:40 PM
From: codfish23	4 Recommendations Recommended By GROUND ZERO™ Machaon Mevis sixty2nds Respond to of 218589

Thanks Dan! I have to admit, I was pulling pretty hard f.or the market to tank in the last 1/2 hour, and not just cause I was shorter than a pygmy riding a shetland pony. I covered 90% of my shorts just before the futures market closed. No reason to get greedy. Look, bear markets are not fun; but, trying to catch falling knives is a fool's game. We will get a chance to play a meaningful bounce fairly soon. But IMHO, we are a long way from the REAL bottom, both in time and in points. I posted some things I'm looking for to feel confident that we are at/near a meaningful bottom--- none of these things have occurred yet. We are only 25% down from the top in the S&P, more in the Nasdaq, but we still have stocks like TSLA selling at >100 PE's. I think that stock alone needs to be cut in half. I expect AAPL, the bellweather, to trade below 100. Do you think that when foreclosures happen on homes in the US , Canada, Europe, when layoffs start happening, when people see their wealth cut by 30-40% or more, that they are going to be lining up to spend $1200 on a new phone, when their old one still works? The excuse for Wednesday's rally was easing by the Bank of England, which was done to save their bond market and avert a profound pension failure. How could that possibly inspire confidence, when doing so increases inflation on an already stressed populace? Wednesday night's short was easy, when combined with Pokersam's E wave call. My retirement funds are at an all time high today, and I'm back 100% cash. I'll wait for the right trade set-up , and either go long or short, I'm totally agnostic, when it comes. I'll share the reason I covered shorts---200 week MA coming up soon, and if we don't bounce, then the world is ending, LOL