I usually have a policy to be cautious about buying into a Rising (I prefer the term ascending though) Wedge. Bulls got ahead of themselves, perhaps. No doubt there will probably be less gloating for the time being. Maybe we get a W as a consolation prize. I am not short, nor do I intend to go short. I am a long term bull and short to medium term bear. Thinking of just placing a few orders and have some alerts set. Should the market continue to go down from here, big test between 2400-2500 on S&P. Might be worth some small buys near that level depending on momentum and other factors. I am a long term investor, and I purchase Vanguard total market VUN as the ultimate hold, should the rest of my portfolio crash and burn. But the $6T question - will 2200 hold for the next 2 years?
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Again, I don't have a position on this, I am just here to buy the dip should it become available, otherwise, I might be forced to continue to FOMO in as we get dragged up because "reasons."
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> there I fixed it, if we go down from here, ultimate buy would be near 1700 S&P. I highly doubt that even 2400 comes into play again for the foreseeable future, but...
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Why is it that I am happy on red days?
Because a red day puts the stock market closer to the possibility that we might one day get reasonable and honest prices
Using S&P to time purchases
Because a red day puts the stock market closer to the possibility that we might one day get reasonable and honest prices
Using S&P to time purchases
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I think I will just keep updating this as we go on